Royal Bank of Canada Acquires 492,574 Shares of RxSight, Inc. (NASDAQ:RXST)

Royal Bank of Canada lifted its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 3,094.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,491 shares of the company's stock after purchasing an additional 492,574 shares during the quarter. Royal Bank of Canada owned 1.26% of RxSight worth $17,481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc. increased its holdings in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock worth $302,000 after buying an additional 320 shares during the last quarter. Wells Fargo & Company MN raised its position in RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after purchasing an additional 445 shares in the last quarter. Legal & General Group Plc lifted its stake in RxSight by 1.2% during the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock worth $1,459,000 after purchasing an additional 512 shares during the last quarter. F M Investments LLC lifted its stake in RxSight by 12.6% during the fourth quarter. F M Investments LLC now owns 5,901 shares of the company's stock worth $203,000 after purchasing an additional 659 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after purchasing an additional 672 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RXST. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Wells Fargo & Company upgraded shares of RxSight from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $17.00 to $25.00 in a report on Monday, May 19th. Stifel Nicolaus reduced their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th. Finally, Piper Sandler initiated coverage on RxSight in a research note on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, RxSight has a consensus rating of "Hold" and a consensus target price of $37.90.

RxSight Stock Down 4.0%

Shares of RXST traded down $0.65 during trading hours on Friday, reaching $15.59. 235,366 shares of the company traded hands, compared to its average volume of 689,967. RxSight, Inc. has a 12 month low of $12.53 and a 12 month high of $61.10. The company's fifty day moving average price is $16.40 and its two-hundred day moving average price is $28.10. The company has a market capitalization of $633.33 million, a price-to-earnings ratio of -18.77 and a beta of 1.32.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $37.90 million for the quarter, compared to analysts' expectations of $38.74 million. During the same period in the previous year, the firm posted ($0.25) EPS. The business's revenue was up 28.5% on a year-over-year basis. On average, analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

In other news, Director Tamara Fountain sold 7,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares of the company's stock, valued at $637,428.03. This represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.36% of the stock is owned by insiders.

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.