Vitruvian Partners LLP Purchases New Holdings in RxSight, Inc. $RXST

Key Points

• Vitruvian Partners acquired 278,865 RxSight shares in the second quarter, representing about 0.67% of the company and 0.7% of its portfolio. Institutional investors collectively own 78.78% of RxSight.
• Analyst sentiment remains cautious: RxSight has an average rating of “Reduce”, with two Buy, seven Hold, and three Sell ratings, and an average price target of $8.37.
• RxSight beat quarterly expectations, reporting a loss of $0.29 per share versus the projected $0.33 loss and revenue of $33.74 million versus the $32.55 million estimate. The stock opened at $6.37, while the company remains unprofitable with a negative 36.8% net margin.

Vitruvian Partners LLP purchased a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 278,865 shares of the company's stock, valued at approximately $1,344,129,000. RxSight makes up approximately 0.7% of Vitruvian Partners LLP's investment portfolio, making the stock its 8th biggest holding. Vitruvian Partners LLP owned approximately 0.67% of RxSight at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of RxSight by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company's stock worth $552,000 after purchasing an additional 1,232 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of RxSight by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock valued at $7,838,000 after buying an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in RxSight by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company's stock worth $2,358,000 after buying an additional 8,424 shares during the last quarter. Creative Planning acquired a new position in RxSight during the second quarter worth $207,000. Finally, Legal & General Group Plc raised its position in RxSight by 5.0% during the second quarter. Legal & General Group Plc now owns 44,574 shares of the company's stock worth $579,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on RXST. Weiss Ratings cut shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of RxSight in a research note on Tuesday, July 7th. Wells Fargo & Company dropped their target price on shares of RxSight from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. UBS Group raised their target price on shares of RxSight from $5.50 to $6.30 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised RxSight from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, RxSight currently has an average rating of "Reduce" and an average target price of $8.37.

RxSight Price Performance

NASDAQ:RXST opened at $6.37 on Wednesday. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22. The company has a market cap of $264.93 million, a P/E ratio of -5.64 and a beta of 1.13. The firm's fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.49.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The company had revenue of $33.74 million for the quarter, compared to analyst estimates of $32.55 million. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. As a group, equities research analysts expect that RxSight, Inc. will post -1.01 earnings per share for the current year.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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