Geode Capital Management LLC Raises Stock Holdings in RxSight, Inc. (NASDAQ:RXST)

Geode Capital Management LLC raised its stake in RxSight, Inc. (NASDAQ:RXST) by 17.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,117 shares of the company’s stock after purchasing an additional 122,775 shares during the period. Geode Capital Management LLC owned 2.03% of RxSight worth $40,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RXST. Nisa Investment Advisors LLC increased its position in shares of RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Quarry LP increased its position in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the third quarter valued at about $34,000. Quest Partners LLC acquired a new stake in RxSight in the second quarter worth about $41,000. Finally, KBC Group NV increased its holdings in shares of RxSight by 63.6% during the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after acquiring an additional 479 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Jefferies Financial Group assumed coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Stifel Nicolaus downgraded RxSight from a “buy” rating to a “hold” rating and dropped their price target for the company from $65.00 to $40.00 in a research note on Friday, December 20th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 price objective (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.00.

RxSight Stock Down 0.3 %

Shares of RXST opened at $34.47 on Wednesday. The stock’s 50-day moving average price is $45.44 and its 200-day moving average price is $49.81. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -41.53 and a beta of 1.11. RxSight, Inc. has a 52 week low of $33.03 and a 52 week high of $66.54.

Insiders Place Their Bets

In other news, Director Jesse Anderson Corley bought 11,111 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $45.37 per share, with a total value of $504,106.07. Following the purchase, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,901,070. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,607 shares of company stock worth $2,874,109. Corporate insiders own 9.36% of the company’s stock.

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.