Invesco Ltd. Sells 596,434 Shares of RxSight, Inc. (NASDAQ:RXST)

Invesco Ltd. trimmed its holdings in RxSight, Inc. (NASDAQ:RXST - Free Report) by 60.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 391,163 shares of the company's stock after selling 596,434 shares during the period. Invesco Ltd. owned 0.97% of RxSight worth $13,448,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in shares of RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after acquiring an additional 445 shares during the last quarter. LPL Financial LLC raised its stake in shares of RxSight by 3.6% in the fourth quarter. LPL Financial LLC now owns 25,007 shares of the company's stock valued at $860,000 after purchasing an additional 861 shares in the last quarter. KBC Group NV lifted its holdings in shares of RxSight by 71.0% during the 4th quarter. KBC Group NV now owns 2,107 shares of the company's stock worth $72,000 after acquiring an additional 875 shares during the period. Hanover Advisors Inc. lifted its stake in RxSight by 18.2% during the fourth quarter. Hanover Advisors Inc. now owns 6,498 shares of the company's stock worth $223,000 after purchasing an additional 1,000 shares during the period. Finally, Private Trust Co. NA acquired a new stake in RxSight in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 78.78% of the company's stock.

Analyst Ratings Changes

RXST has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th. Stifel Nicolaus lowered their price objective 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. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Finally, Bank of America restated 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 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. According to MarketBeat.com, RxSight presently has a consensus rating of "Hold" and a consensus price target of $37.60.

Insiders Place Their Bets

In related news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction that occurred 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 completion of 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.

RxSight Stock Performance

NASDAQ:RXST traded up $0.22 during mid-day trading on Friday, hitting $14.95. The company had a trading volume of 997,553 shares, compared to its average volume of 628,679. RxSight, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $66.54. The firm has a market cap of $607.27 million, a P/E ratio of -18.01 and a beta of 1.26. The business's fifty day moving average is $22.14 and its two-hundred day moving average is $33.97.

RxSight (NASDAQ:RXST - Get Free Report) last posted 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 business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. Equities analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

RxSight Company 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.