RxSight, Inc. $RXST Stock Holdings Lifted by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in RxSight, Inc. by 57.9% in Q1, acquiring an additional 113,767 shares to hold a total of 310,411 shares valued at approximately $7.84 million.
• Analysts have issued drastically lowered price targets for RxSight, with companies like Jefferies and Morgan Stanley assigning a new price objective of $9.00, down from previous estimates of $24.00 and $20.00, respectively.
• RxSight reported a revenue decline of 3.7% year-over-year, with quarterly revenue of $33.64 million, missing consensus estimates by nearly $6 million.

Goldman Sachs Group Inc. lifted its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 57.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 310,411 shares of the company's stock after purchasing an additional 113,767 shares during the quarter. Goldman Sachs Group Inc. owned 0.76% of RxSight worth $7,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in RxSight by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,629 shares of the company's stock worth $709,000 after purchasing an additional 1,001 shares during the period. ProShare Advisors LLC grew its position in shares of RxSight by 50.8% in the 4th quarter. ProShare Advisors LLC now owns 10,229 shares of the company's stock valued at $352,000 after purchasing an additional 3,447 shares during the period. Polar Asset Management Partners Inc. acquired a new position in RxSight during the 4th quarter worth approximately $1,606,000. Royal Bank of Canada raised its stake in shares of RxSight by 3,094.6% during the 4th quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock worth $17,481,000 after purchasing an additional 492,574 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of RxSight during the 4th quarter worth $2,985,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Stock Up 0.4%

Shares of NASDAQ:RXST traded up $0.04 during trading on Friday, reaching $9.53. 147,114 shares of the company's stock traded hands, compared to its average volume of 1,037,036. The firm has a market cap of $389.97 million, a PE ratio of -11.94 and a beta of 1.18. RxSight, Inc. has a fifty-two week low of $6.32 and a fifty-two week high of $55.57. The company has a 50-day simple moving average of $8.32 and a 200-day simple moving average of $13.98.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RXST shares. Wall Street Zen cut RxSight from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a research report on Wednesday, July 9th. Needham & Company LLC cut their price target on RxSight from $22.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. UBS Group cut their target price on RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Finally, Zacks Research raised RxSight from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, RxSight presently has an average rating of "Reduce" and a consensus target price of $10.00.

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.