Parkman Healthcare Partners LLC Grows Position in RxSight, Inc. (NASDAQ:RXST)

Parkman Healthcare Partners LLC lifted its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,698 shares of the company's stock after purchasing an additional 116,378 shares during the quarter. RxSight accounts for approximately 1.4% of Parkman Healthcare Partners LLC's portfolio, making the stock its 27th largest position. Parkman Healthcare Partners LLC owned about 0.75% of RxSight worth $10,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Trust Co. NA purchased a new position in shares of RxSight during the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC boosted its stake in RxSight by 108.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after buying an additional 672 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in RxSight in the fourth quarter worth approximately $46,000. Harbor Investment Advisory LLC purchased a new stake in RxSight in the fourth quarter worth approximately $52,000. Finally, Global Retirement Partners LLC purchased a new stake in RxSight in the fourth quarter worth approximately $69,000. Hedge funds and other institutional investors own 78.78% of the company's stock.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction on 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 transaction, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on RXST shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. UBS Group lowered 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 note on Wednesday, April 9th. Piper Sandler started coverage on RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price for the company. 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 note on Wednesday, March 19th. Finally, Bank of America reiterated an "underperform" rating and issued a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $37.60.

RxSight Stock Performance

Shares of RxSight 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 market cap of $576.64 million, a PE ratio of -17.10 and a beta of 1.32. The stock has a 50 day moving average of $18.08 and a 200-day moving average of $30.25. 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 announced its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, meeting 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 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share. On average, equities analysts anticipate that RxSight, Inc. will post -0.7 earnings per share 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.