Russell Investments Group Ltd. Cuts Stock Holdings in RxSight, Inc. (NASDAQ:RXST)

Russell Investments Group Ltd. lowered its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 98.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,566 shares of the company's stock after selling 94,412 shares during the quarter. Russell Investments Group Ltd.'s holdings in RxSight were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Trust Co. NA purchased a new stake in RxSight during the fourth quarter valued at approximately $34,000. Arcadia Investment Management Corp MI purchased a new stake in shares of RxSight during the fourth quarter valued at $46,000. Harbor Investment Advisory LLC acquired a new position in shares of RxSight in the 4th quarter valued at $52,000. Global Retirement Partners LLC acquired a new stake in shares of RxSight in the fourth quarter worth $69,000. Finally, KBC Group NV lifted its holdings in RxSight by 71.0% in the fourth quarter. KBC Group NV now owns 2,107 shares of the company's stock valued at $72,000 after acquiring an additional 875 shares during the period. Hedge funds and other institutional investors own 78.78% of the company's stock.

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the sale, the director now 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.36% of the company's stock.

RxSight Trading Up 0.7 %

Shares of RXST stock traded up $0.11 on Thursday, hitting $14.83. The stock had a trading volume of 121,814 shares, compared to its average volume of 639,849. The firm has a market cap of $602.39 million, a P/E ratio of -17.88 and a beta of 1.26. RxSight, Inc. has a twelve month low of $13.50 and a twelve month high of $66.54. The company has a fifty day moving average price of $21.22 and a two-hundred day moving average price of $33.24.

RxSight (NASDAQ:RXST - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The firm had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. On average, analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on RXST. Piper Sandler began coverage on RxSight in a report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. 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. Stifel Nicolaus reduced their price target on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $37.60.

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.