Credit Agricole S A Grows Position in RxSight, Inc. $RXST

Key Points

• Credit Agricole S A increased its position in RxSight, Inc. by 32.8% in Q1, owning approximately 1.93% of the company worth $19.85 million.
• RxSight reported a revenue decline of 3.7% year-over-year, with a recent EPS of ($0.08), missing estimates by $0.04.
• Analysts have significantly lowered their price targets for RxSight, with the average target now at $10.00, as ratings fluctuate from "Buy" to "Sell".

Credit Agricole S A lifted its position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 32.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 786,063 shares of the company's stock after buying an additional 194,032 shares during the period. Credit Agricole S A owned about 1.93% of RxSight worth $19,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of RxSight by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,392,052 shares of the company's stock valued at $60,399,000 after purchasing an additional 8,504 shares in the last quarter. Bank of America Corp DE lifted its stake in RxSight by 23.7% in the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after purchasing an additional 413,737 shares during the last quarter. Deutsche Bank AG boosted its position in RxSight by 1.6% during the fourth quarter. Deutsche Bank AG now owns 657,224 shares of the company's stock valued at $22,595,000 after buying an additional 10,634 shares during the period. Royal Bank of Canada grew its stake in shares of RxSight by 3,094.6% during the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock valued at $17,481,000 after buying an additional 492,574 shares during the last quarter. Finally, No Street GP LP grew its stake in shares of RxSight by 5.3% during the fourth quarter. No Street GP LP now owns 500,000 shares of the company's stock valued at $17,190,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.

RxSight Price Performance

RXST stock traded up $0.55 during midday trading on Friday, hitting $9.28. The stock had a trading volume of 1,354,160 shares, compared to its average volume of 1,128,971. The firm has a market cap of $379.74 million, a price-to-earnings ratio of -11.60 and a beta of 1.16. The business has a 50-day moving average of $9.72 and a two-hundred day moving average of $16.68. RxSight, Inc. has a 52-week low of $6.32 and a 52-week high of $58.23.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The business had revenue of $33.64 million for the quarter, compared to the consensus estimate of $39.78 million. During the same period in the previous year, the firm earned ($0.16) EPS. The company's revenue was down 3.7% on a year-over-year basis. Research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RXST. Wells Fargo & Company cut RxSight from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $25.00 to $9.00 in a report on Wednesday, July 9th. Piper Sandler lowered their price objective on RxSight from $18.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Oppenheimer cut shares of RxSight from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 9th. Jefferies Financial Group reiterated a "hold" rating and set a $9.00 price target (down from $24.00) on shares of RxSight in a report on Thursday, July 10th. Finally, Needham & Company LLC dropped their price target on shares of RxSight from $22.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, RxSight has an average rating of "Reduce" and a consensus price target of $10.00.

RxSight Company Profile

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.