JPMorgan Chase & Co. Sells 158,113 Shares of RxSight, Inc. (NASDAQ:RXST)

JPMorgan Chase & Co. lowered its position in RxSight, Inc. (NASDAQ:RXST - Free Report) by 82.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,397 shares of the company's stock after selling 158,113 shares during the period. JPMorgan Chase & Co. owned about 0.09% of RxSight worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its holdings in shares of RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after acquiring an additional 381,389 shares during the period. Vitruvian Partners LLP acquired a new position in shares of RxSight during the 4th quarter valued at $4,961,000. Thrivent Financial for Lutherans raised its holdings in shares of RxSight by 53.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 352,626 shares of the company's stock valued at $12,124,000 after buying an additional 122,989 shares during the period. Vanguard Group Inc. lifted its position in RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock worth $81,946,000 after acquiring an additional 96,464 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in RxSight in the 4th quarter worth approximately $2,641,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Stock Up 0.2 %

Shares of RXST traded up $0.03 during mid-day trading on Thursday, reaching $14.75. The company's stock had a trading volume of 74,628 shares, compared to its average volume of 639,616. RxSight, Inc. has a 1 year low of $13.50 and a 1 year high of $66.54. The company has a market cap of $598.94 million, a price-to-earnings ratio of -17.81 and a beta of 1.26. The business has a fifty day moving average of $21.22 and a 200 day moving average of $33.24.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $40.21 million during the quarter, compared to analysts' expectations of $40.23 million. On average, analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

RXST has been the topic of a number of recent research reports. Bank of America reissued an "underperform" rating and set a $22.00 target price (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Finally, Piper Sandler initiated coverage on RxSight in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $37.60.

Insider Buying and Selling at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now owns 24,793 shares of the company's stock, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.36% of the company's stock.

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.