William Blair Investment Management LLC Acquires Shares of 248,328 RxSight, Inc. (NASDAQ:RXST)

William Blair Investment Management LLC bought a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 248,328 shares of the company’s stock, valued at approximately $14,942,000. William Blair Investment Management LLC owned 0.67% of RxSight as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Precision Wealth Strategies LLC bought a new position in RxSight in the fourth quarter worth approximately $287,000. Swiss National Bank lifted its holdings in shares of RxSight by 2.9% in the 4th quarter. Swiss National Bank now owns 45,700 shares of the company’s stock worth $1,843,000 after buying an additional 1,300 shares during the period. Amalgamated Bank lifted its holdings in shares of RxSight by 7.7% in the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after buying an additional 298 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of RxSight by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 190,337 shares of the company’s stock worth $7,674,000 after buying an additional 8,003 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of RxSight during the fourth quarter valued at $642,000. Institutional investors own 78.78% of the company’s stock.

RxSight Trading Up 1.1 %

Shares of RXST stock opened at $55.54 on Tuesday. RxSight, Inc. has a 12-month low of $20.66 and a 12-month high of $66.54. The business’s fifty day simple moving average is $50.75 and its 200-day simple moving average is $53.97. The company has a market cap of $2.05 billion, a PE ratio of -44.08 and a beta of 1.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $34.89 million during the quarter, compared to analysts’ expectations of $32.33 million. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The business’s quarterly revenue was up 67.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) earnings per share. On average, equities analysts forecast that RxSight, Inc. will post -0.81 earnings per share for the current year.

Insider Activity at RxSight

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

Analyst Upgrades and Downgrades

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

RxSight 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.