RxSight, Inc. (NASDAQ:RXST) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC raised its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 138.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,617 shares of the company's stock after purchasing an additional 212,599 shares during the period. Voloridge Investment Management LLC owned 0.91% of RxSight worth $12,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock worth $81,946,000 after buying an additional 96,464 shares during the period. Bank of America Corp DE increased its holdings in RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after purchasing an additional 413,737 shares during the period. Artisan Partners Limited Partnership increased its holdings in RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after purchasing an additional 381,389 shares during the period. Geode Capital Management LLC boosted its position in RxSight by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company's stock valued at $28,568,000 after acquiring an additional 13,641 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in RxSight by 1.6% during the 4th quarter. Deutsche Bank AG now owns 657,224 shares of the company's stock valued at $22,595,000 after acquiring an additional 10,634 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Trading Up 2.1%

RxSight stock traded up $0.33 during mid-day trading on Tuesday, hitting $16.01. The company's stock had a trading volume of 603,565 shares, compared to its average volume of 688,979. The firm has a market capitalization of $650.60 million, a PE ratio of -19.29 and a beta of 1.32. RxSight, Inc. has a 1 year low of $12.53 and a 1 year high of $62.50. The stock's fifty day moving average is $16.92 and its two-hundred day moving average is $28.48.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting 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 company had revenue of $37.90 million during the quarter, compared to analyst estimates of $38.74 million. During the same period in the prior year, the business posted ($0.25) earnings per share. The firm's revenue for the quarter was up 28.5% compared to the same quarter last year. On average, equities analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RXST shares. Bank of America restated an "underperform" rating and set a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Piper Sandler assumed coverage on RxSight in a report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price objective for the company. Stifel Nicolaus decreased their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $43.00 price objective on shares of RxSight in a research note on Thursday, April 3rd. Finally, UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $45.00 to $16.00 in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $37.90.

RxSight Company 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.