540,208 Shares in RxSight, Inc. $RXST Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 540,208 RxSight shares worth approximately $2.6 million, representing about 1.3% of the company. Institutional investors collectively own 78.78% of RxSight.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $8.37. Ratings include two Buys, seven Holds, and three Sells.
• RxSight reported quarterly revenue of $33.74 million and an adjusted loss of $0.29 per share, exceeding analysts’ expectations, while shares recently traded at $6.61.

Deutsche Bank AG purchased a new position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 540,208 shares of the company's stock, valued at approximately $2,604,000. Deutsche Bank AG owned approximately 1.30% of RxSight at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of RxSight during the 2nd quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in RxSight in the 1st quarter worth about $30,000. Larson Financial Group LLC boosted its holdings in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock worth $36,000 after buying an additional 2,089 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock worth $39,000 after buying an additional 3,063 shares in the last quarter. Finally, CWM LLC increased its stake in RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company's stock worth $40,000 after buying an additional 2,596 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RXST. Wells Fargo & Company decreased their price target on shares of RxSight from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. UBS Group raised their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Bank of America lowered their target price on RxSight from $8.00 to $6.50 and set an "underperform" rating on the stock in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded RxSight from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $8.37.

RxSight Stock Up 3.6%

Shares of RXST opened at $6.61 on Friday. The company has a market capitalization of $274.93 million, a price-to-earnings ratio of -5.85 and a beta of 1.13. RxSight, Inc. has a 52-week low of $4.48 and a 52-week high of $13.22. The stock has a 50 day moving average price of $5.79 and a 200 day moving average price of $6.38.

RxSight (NASDAQ:RXST - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.04. The firm had revenue of $33.74 million during the quarter, compared to analysts' expectations of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. On average, equities analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current fiscal year.

RxSight Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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