RxSight, Inc. (NASDAQ:RXST) Stake Lifted by Truist Financial Corp

Truist Financial Corp raised its stake in RxSight, Inc. (NASDAQ:RXST) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,827 shares of the company’s stock after buying an additional 583 shares during the quarter. Truist Financial Corp’s holdings in RxSight were worth $351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares during the period. Quest Partners LLC acquired a new position in shares of RxSight during the second quarter worth approximately $41,000. Larson Financial Group LLC bought a new position in RxSight in the 1st quarter worth approximately $51,000. Amalgamated Bank increased its position in RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after acquiring an additional 207 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in RxSight during the 2nd quarter valued at $156,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. BTIG Research boosted their price target on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company decreased their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Oppenheimer dropped their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Stifel Nicolaus decreased their price target on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, RxSight has a consensus rating of “Buy” and an average target price of $60.14.

Insider Buying and Selling

In other news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 40,010 shares of company stock worth $1,905,576 in the last quarter. 9.36% of the stock is owned by corporate insiders.

RxSight Stock Up 0.9 %

Shares of RXST opened at $50.47 on Friday. The stock’s 50-day moving average price is $52.12 and its 200 day moving average price is $53.82. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -40.06 and a beta of 1.20. RxSight, Inc. has a 12-month low of $20.66 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The company had revenue of $34.89 million during the quarter, compared to the consensus estimate of $32.33 million. During the same period last year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was up 67.6% compared to the same quarter last year. Equities research analysts expect that RxSight, Inc. will post -0.81 EPS for the current year.

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.