BNP Paribas Financial Markets Makes New Investment in RxSight, Inc. (NASDAQ:RXST)

BNP Paribas Financial Markets acquired a new position in RxSight, Inc. (NASDAQ:RXST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 178,251 shares of the company's stock, valued at approximately $6,128,000. BNP Paribas Financial Markets owned 0.44% of RxSight as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in RxSight by 389.8% during the 3rd quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after purchasing an additional 46,783 shares during the period. Global Retirement Partners LLC bought a new position in shares of RxSight during the 4th quarter valued at approximately $69,000. Vanguard Group Inc. boosted its holdings in RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock valued at $81,946,000 after acquiring an additional 96,464 shares during the period. Bank of New York Mellon Corp boosted its holdings in RxSight by 10.0% during the 4th quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock valued at $3,537,000 after acquiring an additional 9,385 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in RxSight by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company's stock valued at $9,516,000 after acquiring an additional 7,494 shares during the period. Institutional investors own 78.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RXST. Stifel Nicolaus lowered their target price on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. Wells Fargo & Company dropped their target price on RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler assumed coverage on shares of RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target for the company. UBS Group cut shares of RxSight from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $45.00 to $16.00 in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, RxSight currently has an average rating of "Hold" and a consensus price target of $37.60.

RxSight Stock Up 0.5%

NASDAQ RXST traded up $0.07 during trading on Thursday, hitting $13.31. The stock had a trading volume of 1,243,182 shares, compared to its average volume of 670,390. The company has a market capitalization of $540.88 million, a PE ratio of -16.04 and a beta of 1.32. The firm has a 50 day moving average price of $18.54 and a 200 day moving average price of $30.76. RxSight, Inc. has a twelve month low of $12.53 and a twelve month high of $64.50.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). The business had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business's revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) earnings per share. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, the director now owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.36% of the stock is owned by company insiders.

About RxSight

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.