Nuveen LLC Makes New $5.56 Million Investment in RxSight, Inc. $RXST

Key Points

• Nuveen LLC acquired 220,175 shares of RxSight, Inc. valued at approximately $5.56 million during the first quarter, amounting to 0.54% ownership of the company.
• Wall Street analysts have lowered price targets for RxSight with Stifel Nicolaus setting a target of $8.00, indicating a general sentiment of caution around the stock.
• RxSight's stock has declined by 7.2%, and the company reported a loss of $0.08 EPS in its latest earnings, missing consensus estimates by $0.04.

Nuveen LLC acquired a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 220,175 shares of the company's stock, valued at approximately $5,559,000. Nuveen LLC owned 0.54% of RxSight as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RXST. Royal Bank of Canada grew its stake in RxSight by 3,094.6% in the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock valued at $17,481,000 after acquiring an additional 492,574 shares during the period. Bank of America Corp DE grew 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 valued at $74,258,000 after acquiring an additional 413,737 shares during the period. Dimensional Fund Advisors LP grew its stake in RxSight by 196.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company's stock valued at $12,346,000 after acquiring an additional 237,877 shares during the period. Voloridge Investment Management LLC grew its stake in RxSight by 138.9% in the fourth quarter. Voloridge Investment Management LLC now owns 365,617 shares of the company's stock valued at $12,570,000 after acquiring an additional 212,599 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in RxSight in the fourth quarter valued at approximately $6,855,000. Institutional investors and hedge funds own 78.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RXST shares. Morgan Stanley lowered RxSight from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $20.00 to $9.00 in a report on Tuesday, July 15th. Stifel Nicolaus dropped their target price on RxSight from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company lowered 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. UBS Group dropped their target price on RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Needham & Company LLC dropped their target price on RxSight from $22.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 8th. 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. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $10.00.

RxSight Stock Down 1.2%

RxSight stock traded down $0.11 during mid-day trading on Friday, reaching $9.04. 1,151,763 shares of the company's stock were exchanged, compared to its average volume of 1,252,988. The business's fifty day simple moving average is $9.22 and its 200 day simple moving average is $15.74. The firm has a market capitalization of $369.92 million, a PE ratio of -11.30 and a beta of 1.17. RxSight, Inc. has a one year low of $6.32 and a one year high of $57.53.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The business 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 business's revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. On average, sell-side analysts forecast 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.