Silvercrest Asset Management Group LLC Buys Shares of 86,825 RxSight, Inc. (NASDAQ:RXST)

Silvercrest Asset Management Group LLC acquired a new position in RxSight, Inc. (NASDAQ:RXST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc. grew its position in shares of RxSight by 3.8% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock valued at $302,000 after acquiring an additional 320 shares during the period. Wells Fargo & Company MN grew its position in shares of RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after acquiring an additional 445 shares during the period. Legal & General Group Plc grew its position in shares of RxSight by 1.2% during the 4th quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock valued at $1,459,000 after acquiring an additional 512 shares during the period. F M Investments LLC grew its position in shares of RxSight by 12.6% during the 4th quarter. F M Investments LLC now owns 5,901 shares of the company's stock valued at $203,000 after acquiring an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC grew its position in shares of RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after acquiring an additional 672 shares during the period. 78.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RXST. Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. UBS Group cut shares of RxSight from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $45.00 to $16.00 in a research note on Wednesday, April 9th. Piper Sandler assumed coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Stifel Nicolaus lowered their target price 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. Finally, Bank of America reiterated 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.90.

RxSight Trading Down 1.3%

Shares of RxSight stock traded down $0.21 on Friday, hitting $15.68. 670,247 shares of the company traded hands, compared to its average volume of 689,322. The firm's 50-day simple moving average is $17.11 and its 200 day simple moving average is $28.70. The company has a market cap of $637.19 million, a P/E ratio of -18.89 and a beta of 1.32. RxSight, Inc. has a 12-month low of $12.53 and a 12-month high of $62.50.

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

Insider Buying and Selling

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the business'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 transaction, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by corporate insiders.

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.