First Trust Advisors LP Sells 68,117 Shares of RxSight, Inc. (NASDAQ:RXST)

First Trust Advisors LP trimmed its position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 62.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,341 shares of the company's stock after selling 68,117 shares during the period. First Trust Advisors LP owned approximately 0.10% of RxSight worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RXST. Vanguard Group Inc. grew its stake in shares of RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock valued at $81,946,000 after purchasing an additional 96,464 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock valued at $53,345,000 after purchasing an additional 381,389 shares during the period. Geode Capital Management LLC grew its stake in shares of RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company's stock valued at $28,568,000 after purchasing an additional 13,641 shares during the period. DF Dent & Co. Inc. bought a new stake in shares of RxSight in the 4th quarter valued at approximately $14,524,000. Finally, Renaissance Technologies LLC grew its stake in shares of RxSight by 102.9% in the 4th quarter. Renaissance Technologies LLC now owns 361,500 shares of the company's stock valued at $12,428,000 after purchasing an additional 183,300 shares during the period. 78.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Piper Sandler started coverage on RxSight in a report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 target price on the stock. Wells Fargo & Company reduced their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. Finally, Bank of America reaffirmed an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, RxSight has a consensus rating of "Hold" and a consensus target price of $37.60.

RxSight Stock Performance

NASDAQ:RXST traded up $0.83 during mid-day trading on Monday, hitting $13.89. The company had a trading volume of 99,178 shares, compared to its average volume of 654,721. RxSight, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $64.50. The business's fifty day moving average is $19.28 and its two-hundred day moving average is $31.26. The firm has a market cap of $564.61 million, a P/E ratio of -16.77 and a beta of 1.32.

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 the consensus estimate of ($0.03). The business had revenue of $37.90 million for 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 was up 28.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS. Equities analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Tamara Fountain sold 7,000 shares of the firm'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 sale, the director now owns 24,793 shares of the company's stock, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by company insiders.

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.