RxSight, Inc. $RXST Stock Holdings Raised by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in RxSight, Inc. by 885.7% in Q1, acquiring 646,791 shares and owning approximately 1.77% of the company valued at $18.2 million by the end of the period.
• Wall Street analysts have been lowering their price targets for RxSight, with most recent targets between $8.00 and $9.00, reflecting a generally negative outlook with a consensus rating of "Reduce" for the stock.
• RxSight reported a revenue of $33.64 million in the latest quarter, missing expectations and showing a year-over-year decline of 3.7%, alongside a disappointing EPS result of ($0.08).

T. Rowe Price Investment Management Inc. lifted its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 885.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 719,818 shares of the company's stock after purchasing an additional 646,791 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.77% of RxSight worth $18,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RXST. State of Wyoming purchased a new stake in RxSight during the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC increased its position in 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 buying an additional 672 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of RxSight by 161.2% in the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock worth $103,000 after purchasing an additional 2,525 shares in the last quarter. Two Sigma Securities LLC purchased a new position in RxSight during the fourth quarter valued at $200,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in RxSight during the fourth quarter valued at $204,000. 78.78% of the stock is currently owned by institutional investors.

RxSight Trading Down 1.9%

Shares of RXST traded down $0.18 during mid-day trading on Friday, hitting $8.98. 631,906 shares of the company's stock were exchanged, compared to its average volume of 1,046,691. RxSight, Inc. has a fifty-two week low of $6.32 and a fifty-two week high of $57.53. The firm has a market capitalization of $367.26 million, a P/E ratio of -11.21 and a beta of 1.16. The business's 50 day moving average is $9.31 and its two-hundred day moving average is $16.12.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The firm had revenue of $33.64 million during the quarter, compared to analyst estimates of $39.78 million. During the same quarter in the previous year, the business earned ($0.16) EPS. RxSight's revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on RXST. Oppenheimer cut RxSight from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 9th. UBS Group lowered their target price on RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered RxSight from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Piper Sandler dropped their target price on RxSight from $18.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $9.00 target price (down previously from $24.00) on shares of RxSight in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $10.00.

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.