Jupiter Asset Management Ltd. Acquires New Holdings in RxSight, Inc. (NASDAQ:RXST)

Jupiter Asset Management Ltd. acquired a new stake in shares of RxSight, Inc. (NASDAQ:RXST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,452 shares of the company’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares in the last quarter. Quest Partners LLC bought a new position in RxSight during the second quarter valued at approximately $41,000. Larson Financial Group LLC bought a new position in RxSight during the first quarter valued at approximately $51,000. RiverPark Advisors LLC raised its position in shares of RxSight by 361.4% in the first quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock valued at $159,000 after purchasing an additional 2,414 shares during the period. Finally, Amalgamated Bank raised its position in shares of RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after purchasing an additional 298 shares during the period. Institutional investors own 78.78% of the company’s stock.

Insider Activity

In other news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total value of $586,100.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares in the company, valued at approximately $816,906.18. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at approximately $816,906.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the transaction, the insider now owns 42,246 shares in the company, valued at $1,658,155.50. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

RxSight Trading Up 0.8 %

Shares of RXST stock opened at $54.96 on Friday. RxSight, Inc. has a 1 year low of $20.66 and a 1 year high of $66.54. The firm’s fifty day simple moving average is $50.78 and its 200 day simple moving average is $53.98. The firm has a market capitalization of $2.03 billion, a P/E ratio of -43.62 and a beta of 1.22.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $32.33 million. During the same quarter in the prior year, the company posted ($0.40) EPS. The business’s revenue was up 67.6% on a year-over-year basis. Equities research analysts anticipate that RxSight, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.