Polar Capital Holdings Plc Increases Position in RxSight, Inc. (NASDAQ:RXST)

Polar Capital Holdings Plc increased its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,254 shares of the company's stock after acquiring an additional 39,347 shares during the period. Polar Capital Holdings Plc owned approximately 0.56% of RxSight worth $7,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RXST. Barclays PLC grew its position in RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company's stock worth $2,906,000 after acquiring an additional 46,783 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in RxSight in the fourth quarter worth about $52,000. KBC Group NV boosted its position in shares of RxSight by 71.0% during the fourth quarter. KBC Group NV now owns 2,107 shares of the company's stock valued at $72,000 after buying an additional 875 shares during the period. Van ECK Associates Corp boosted its position in shares of RxSight by 46.7% during the fourth quarter. Van ECK Associates Corp now owns 3,265 shares of the company's stock valued at $112,000 after buying an additional 1,040 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of RxSight by 3.6% during the fourth quarter. Rhumbline Advisers now owns 48,473 shares of the company's stock valued at $1,666,000 after buying an additional 1,663 shares during the period. Hedge funds and other institutional investors own 78.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RXST shares. Piper Sandler started coverage on RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 target price for the company. UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and dropped their target price for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Stifel Nicolaus dropped 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. Needham & Company LLC restated a "buy" rating and set a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $17.00 to $25.00 in a report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $37.90.

RxSight Stock Performance

NASDAQ:RXST traded down $0.45 during trading hours on Wednesday, reaching $16.17. The company's stock had a trading volume of 241,117 shares, compared to its average volume of 679,499. The company has a market capitalization of $657.26 million, a P/E ratio of -19.51 and a beta of 1.32. RxSight, Inc. has a 12 month low of $12.53 and a 12 month high of $64.50. The stock has a 50 day moving average price of $17.72 and a two-hundred day moving average price of $29.62.

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

Insider Transactions at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the company'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 transaction, the director now directly owns 24,793 shares of the company's stock, valued at approximately $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.36% of the company's stock.

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.