Price T Rowe Associates Inc. MD decreased its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 59.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,184 shares of the company's stock after selling 23,863 shares during the period. Price T Rowe Associates Inc. MD's holdings in RxSight were worth $557,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA bought a new stake in shares of RxSight during the 4th quarter worth about $34,000. Arcadia Investment Management Corp MI bought a new stake in shares of RxSight during the 4th quarter worth about $46,000. Harbor Investment Advisory LLC bought a new stake in shares of RxSight during the 4th quarter worth about $52,000. Global Retirement Partners LLC bought a new stake in shares of RxSight during the 4th quarter worth about $69,000. Finally, KBC Group NV raised its stake in RxSight by 71.0% in the 4th quarter. KBC Group NV now owns 2,107 shares of the company's stock worth $72,000 after purchasing an additional 875 shares in the last quarter. Institutional investors own 78.78% of the company's stock.
RxSight Trading Down 4.0%
Shares of RxSight stock opened at $13.20 on Wednesday. The firm has a market capitalization of $536.41 million, a PE ratio of -15.90 and a beta of 1.32. The firm's 50 day moving average is $18.77 and its 200 day moving average is $30.88. RxSight, Inc. has a 1 year low of $13.03 and a 1 year high of $64.50.
RxSight (NASDAQ:RXST - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. During the same period in the previous year, the firm posted ($0.25) EPS. The company's revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, research analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.
Insiders Place Their Bets
In other 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 value of $179,970.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.36% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Piper Sandler assumed 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. Stifel Nicolaus dropped their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their target price on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and issued a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. Finally, UBS Group cut shares of 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. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $37.60.
View Our Latest Research Report on RXST
RxSight Company Profile
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Free Report)
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.
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