Panoramic Capital LLC Makes New Investment in RxSight, Inc. (NASDAQ:RXST)

Panoramic Capital LLC bought a new position in RxSight, Inc. (NASDAQ:RXST - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,127 shares of the company's stock, valued at approximately $761,000. Panoramic Capital LLC owned approximately 0.05% of RxSight at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DF Dent & Co. Inc. bought a new position in RxSight in the fourth quarter valued at about $14,524,000. Bank of America Corp DE increased its position in RxSight by 23.7% in the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after buying an additional 413,737 shares in the last quarter. Artisan Partners Limited Partnership increased its position in RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after buying an additional 381,389 shares in the last quarter. Dimensional Fund Advisors LP increased its position in RxSight by 196.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company's stock worth $12,346,000 after buying an additional 237,877 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in RxSight in the fourth quarter worth about $6,855,000. 78.78% of the stock is owned by institutional investors.

Insider Transactions at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RXST shares. Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and cut their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Stifel Nicolaus cut their target price on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $17.00 to $25.00 in a research report on Monday. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $37.90.

RxSight Stock Up 12.8%

NASDAQ RXST traded up $1.82 during trading on Monday, hitting $16.01. 1,062,958 shares of the stock traded hands, compared to its average volume of 675,626. The company has a market capitalization of $650.40 million, a P/E ratio of -19.34 and a beta of 1.32. The firm has a 50-day simple moving average of $18.08 and a 200-day simple moving average of $29.96. RxSight, Inc. has a 12-month low of $12.53 and a 12-month high of $64.50.

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

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.