Northern Trust Corp Buys 26,106 Shares of RxSight, Inc. (NASDAQ:RXST)

Northern Trust Corp lifted its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,404 shares of the company's stock after purchasing an additional 26,106 shares during the period. Northern Trust Corp owned approximately 1.00% of RxSight worth $13,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Trust Co. NA acquired a new stake in shares of RxSight during the fourth quarter worth $34,000. Coppell Advisory Solutions LLC lifted its holdings 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 buying an additional 672 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of RxSight during the fourth quarter worth approximately $46,000. Harbor Investment Advisory LLC acquired a new position in shares of RxSight in the fourth quarter valued at $52,000. Finally, Global Retirement Partners LLC acquired a new position in shares of RxSight in the fourth quarter valued at $69,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RXST. Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $17.00 to $25.00 in a research note on Monday. UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and cut their target price for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Piper Sandler initiated coverage on RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price for the company. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $17.00 price objective (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $43.00 price objective 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 issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $37.90.

RxSight Price Performance

Shares of NASDAQ:RXST traded down $0.24 during midday trading on Wednesday, reaching $16.38. The company's stock had a trading volume of 39,648 shares, compared to its average volume of 678,732. RxSight, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $64.50. The company has a market capitalization of $665.67 million, a P/E ratio of -19.66 and a beta of 1.32. The business's fifty day simple moving average is $17.72 and its 200-day simple moving average is $29.62.

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

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the firm'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 of the company's stock, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is currently owned by corporate insiders.

About RxSight

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.