RxSight, Inc. $RXST Shares Acquired by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC increased its stake in RxSight, Inc. by 109.9% this quarter, owning a total of 631,238 shares, which constitutes about 1.9% of its portfolio.
• RxSight reported earnings of ($0.08) per share, missing analysts' estimates, with revenues of $33.64 million, down 3.7% compared to the previous year.
• Wall Street analysts have generally downgraded RXST, with price targets dropping to around $9.00 from previous highs, reflecting a tougher outlook for the stock.

Parkman Healthcare Partners LLC boosted its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 109.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 631,238 shares of the company's stock after acquiring an additional 330,540 shares during the quarter. RxSight comprises 1.9% of Parkman Healthcare Partners LLC's holdings, making the stock its 18th largest holding. Parkman Healthcare Partners LLC owned approximately 1.55% of RxSight worth $15,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RXST. Dimensional Fund Advisors LP increased its stake in RxSight by 196.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company's stock worth $12,346,000 after acquiring an additional 237,877 shares during the last quarter. Northern Trust Corp increased its stake in RxSight by 6.9% during the fourth quarter. Northern Trust Corp now owns 403,404 shares of the company's stock worth $13,869,000 after acquiring an additional 26,106 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in RxSight during the fourth quarter worth $6,128,000. Bank of America Corp DE increased its stake in RxSight by 23.7% during the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after acquiring an additional 413,737 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in RxSight during the fourth quarter worth $824,000. Institutional investors and hedge funds own 78.78% of the company's stock.

Analyst Upgrades and Downgrades

RXST has been the subject of several recent analyst reports. BTIG Research reissued a "neutral" rating on shares of RxSight in a research note on Wednesday, July 9th. UBS Group cut their target price on RxSight from $16.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Piper Sandler cut their target price on RxSight from $18.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Wall Street Zen lowered RxSight from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Oppenheimer lowered RxSight from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, RxSight has an average rating of "Reduce" and an average target price of $10.00.

RxSight Price Performance

Shares of RXST stock traded up $0.84 during trading on Tuesday, reaching $9.78. The company's stock had a trading volume of 1,305,165 shares, compared to its average volume of 1,185,680. The company has a market capitalization of $400.20 million, a price-to-earnings ratio of -12.23 and a beta of 1.18. The stock's 50-day moving average price is $8.63 and its 200 day moving average price is $14.81. RxSight, Inc. has a 1-year low of $6.32 and a 1-year high of $57.53.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $33.64 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

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.