Silvercrest Asset Management Group LLC Invests $2.99 Million in RxSight, Inc. (NASDAQ:RXST)

Silvercrest Asset Management Group LLC purchased a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 86,825 shares of the company's stock, valued at approximately $2,985,000. Silvercrest Asset Management Group LLC owned approximately 0.22% of RxSight at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its stake in RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after buying an additional 46,783 shares in the last quarter. Global Retirement Partners LLC purchased a new position in RxSight in the 4th quarter valued at about $69,000. Vanguard Group Inc. lifted its stake in RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock valued at $81,946,000 after buying an additional 96,464 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in RxSight by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock valued at $3,537,000 after buying an additional 9,385 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in RxSight by 46.7% in the 4th quarter. Van ECK Associates Corp now owns 3,265 shares of the company's stock valued at $112,000 after buying an additional 1,040 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.36% of the company's stock.

RxSight Price Performance

Shares of NASDAQ RXST opened at $16.32 on Tuesday. The company has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $29.71. The company has a market capitalization of $663.20 million, a P/E ratio of -19.66 and a beta of 1.32. RxSight, Inc. has a 1 year low of $12.53 and a 1 year high of $64.50.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.03). The business had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The business's revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.25) EPS. As a group, research analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RXST shares. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and decreased their price target for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their price target on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and issued a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. Wells Fargo & Company raised shares of RxSight from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $17.00 to $25.00 in a research note on Monday. Finally, Bank of America reissued an "underperform" rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Two equities 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.com, the company presently has an average rating of "Hold" and an average price target of $37.90.

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.

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