Nuveen Asset Management LLC Lowers Holdings in RxSight, Inc. (NASDAQ:RXST)

Nuveen Asset Management LLC reduced its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 221,087 shares of the company's stock after selling 34,555 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.55% of RxSight worth $7,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Private Trust Co. NA purchased a new position in shares of RxSight during the 4th quarter valued at about $34,000. Coppell Advisory Solutions LLC lifted its holdings in RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after purchasing an additional 672 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in RxSight during the fourth quarter valued at approximately $46,000. Global Retirement Partners LLC bought a new position in shares of RxSight in the fourth quarter worth approximately $69,000. Finally, KBC Group NV boosted its position in shares of RxSight by 71.0% in the fourth quarter. KBC Group NV now owns 2,107 shares of the company's stock worth $72,000 after purchasing an additional 875 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RXST shares. Needham & Company LLC restated a "buy" rating and set a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 price target (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Bank of America restated an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Piper Sandler started coverage on RxSight in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, RxSight has an average rating of "Hold" and an average target price of $37.90.

Insider Transactions at RxSight

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

RxSight Price Performance

Shares of RxSight stock traded up $0.28 on Tuesday, reaching $15.81. The company had a trading volume of 974,313 shares, compared to its average volume of 698,827. The firm's 50-day moving average price is $15.81 and its two-hundred day moving average price is $27.37. RxSight, Inc. has a 1 year low of $12.53 and a 1 year high of $60.81. The firm has a market cap of $642.47 million, a price-to-earnings ratio of -19.05 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) EPS for the quarter, hitting the consensus estimate of ($0.03). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. 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 previous year, the firm earned ($0.25) earnings per share. RxSight's quarterly revenue was up 28.5% compared to the same quarter last year. As a group, analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current year.

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.