Global Retirement Partners LLC Acquires Shares of 2,000 RxSight, Inc. (NASDAQ:RXST)

Global Retirement Partners LLC acquired a new stake in RxSight, Inc. (NASDAQ:RXST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares during the last quarter. Quarry LP increased its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after purchasing an additional 399 shares during the period. MCIA Inc increased its holdings in shares of RxSight by 5.7% in the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares during the period. Finally, KBC Group NV increased its holdings in shares of RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insider Activity

In other news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the sale, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Anderson Corley bought 1,443 shares of RxSight stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the transaction, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RXST shares. Stifel Nicolaus dropped their target price on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of RxSight in a report on Wednesday. Wells Fargo & Company dropped their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, UBS Group started coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, RxSight presently has an average rating of “Moderate Buy” and an average target price of $51.63.

RxSight Stock Performance

RXST opened at $28.36 on Friday. The business’s fifty day moving average is $32.31 and its two-hundred day moving average is $43.10. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -34.17 and a beta of 1.19. RxSight, Inc. has a one year low of $26.29 and a one year high of $66.54.

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