22,127 Shares in RxSight, Inc. (NASDAQ:RXST) Bought by Panoramic Capital LLC

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

Several other institutional investors have also recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. boosted its holdings in RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock valued at $302,000 after purchasing an additional 320 shares during the last quarter. Wells Fargo & Company MN increased its position in RxSight by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after acquiring an additional 445 shares during the period. Legal & General Group Plc increased its position in shares of RxSight by 1.2% during the 4th quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock valued at $1,459,000 after purchasing an additional 512 shares during the period. F M Investments LLC increased its position in shares of RxSight by 12.6% during the 4th quarter. F M Investments LLC now owns 5,901 shares of the company's stock valued at $203,000 after purchasing an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its stake 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 worth $44,000 after acquiring an additional 672 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and set a $43.00 target price on shares of RxSight in a report on Thursday, April 3rd. Bank of America reiterated an "underperform" rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $17.00 target price (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RxSight currently has a consensus rating of "Hold" and an average target price of $37.60.

Insider Buying and Selling at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company's stock.

RxSight Stock Up 6.6%

RXST stock traded up $0.88 during midday trading on Friday, reaching $14.19. 862,724 shares of the company's stock traded hands, compared to its average volume of 672,599. The company has a 50-day simple moving average of $18.08 and a two-hundred day simple moving average of $30.25. RxSight, Inc. has a 1-year low of $12.53 and a 1-year high of $64.50. The company has a market cap of $576.64 million, a price-to-earnings ratio of -17.10 and a beta of 1.32.

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