Victory Capital Management Inc. Raises Holdings in RxSight, Inc. (NASDAQ:RXST)

Victory Capital Management Inc. increased its position in RxSight, Inc. (NASDAQ:RXST) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 271,978 shares of the company’s stock after buying an additional 12,114 shares during the quarter. Victory Capital Management Inc. owned about 0.67% of RxSight worth $9,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after buying an additional 240 shares during the period. Quarry LP raised its position in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the period. The Manufacturers Life Insurance Company raised its position in 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 raised its position in 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 raised its position in 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. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Stock Performance

NASDAQ:RXST opened at $25.22 on Friday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -30.39 and a beta of 1.22. RxSight, Inc. has a one year low of $24.64 and a one year high of $66.54. The stock has a 50-day simple moving average of $30.76 and a 200 day simple moving average of $41.40.

RxSight (NASDAQ:RXST) last posted its quarterly 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 during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. On average, equities research analysts forecast that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at RxSight

In related news, Director Jesse Anderson Corley bought 1,443 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was bought at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RXST has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research report on Wednesday, February 26th. Stifel Nicolaus cut their price objective on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They issued 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.63.

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.