RxSight, Inc. $RXST Stock Position Boosted by Doheny Asset Management CA

Key Points

• Doheny Asset Management CA raised its stake in RxSight, Inc. by 81.6%, owning 71,385 shares after purchasing an additional 32,085 shares in the first quarter.
• RxSight reported earnings of ($0.08) per share for the last quarter, falling short of analysts' expectations, with revenue down 3.7% year-over-year.
• The consensus rating for RxSight is currently "Reduce", with several analysts adjusting target prices significantly downward, including Needham & Company lowering it from $22.00 to $11.00.

Doheny Asset Management CA raised its position in RxSight, Inc. (NASDAQ:RXST - Free Report) by 81.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,385 shares of the company's stock after purchasing an additional 32,085 shares during the quarter. RxSight comprises 1.4% of Doheny Asset Management CA's investment portfolio, making the stock its 23rd biggest position. Doheny Asset Management CA owned 0.18% of RxSight worth $1,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in shares of RxSight by 66.0% in the 1st quarter. AlphaQuest LLC now owns 8,443 shares of the company's stock worth $213,000 after acquiring an additional 3,357 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in RxSight by 885.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company's stock worth $18,176,000 after buying an additional 646,791 shares during the period. Credit Agricole S A increased its position in shares of RxSight by 32.8% in the 1st quarter. Credit Agricole S A now owns 786,063 shares of the company's stock valued at $19,848,000 after purchasing an additional 194,032 shares during the last quarter. Quantbot Technologies LP increased its position in shares of RxSight by 160.7% in the 1st quarter. Quantbot Technologies LP now owns 87,193 shares of the company's stock valued at $2,202,000 after purchasing an additional 53,749 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of RxSight by 8.7% in the 1st quarter. Northern Trust Corp now owns 438,425 shares of the company's stock valued at $11,070,000 after purchasing an additional 35,021 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on RXST. Stifel Nicolaus dropped their target price on shares of RxSight from $9.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Piper Sandler dropped their target price on RxSight from $18.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. UBS Group reduced their price objective on shares of RxSight from $16.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Jefferies Financial Group reiterated a "hold" rating and issued a $9.00 price objective (down previously from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Finally, Bank of America cut their target price on shares of RxSight from $18.00 to $9.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $10.00.

RxSight Stock Down 1.3%

Shares of RxSight stock traded down $0.11 during trading on Tuesday, hitting $8.50. 1,614,058 shares of the stock were exchanged, compared to its average volume of 1,177,156. The stock's fifty day moving average is $9.62 and its 200 day moving average is $16.39. RxSight, Inc. has a 12 month low of $6.32 and a 12 month high of $57.53.

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

RxSight 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.