Vanguard Group Inc. Buys 96,464 Shares of RxSight, Inc. (NASDAQ:RXST)

Vanguard Group Inc. increased its position in RxSight, Inc. (NASDAQ:RXST - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,383,548 shares of the company's stock after purchasing an additional 96,464 shares during the period. Vanguard Group Inc. owned 5.91% of RxSight worth $81,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP grew 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. Private Trust Co. NA purchased a new stake in RxSight in the fourth quarter worth about $34,000. Arcadia Investment Management Corp MI bought a new position in shares of RxSight during the fourth quarter valued at approximately $46,000. Harbor Investment Advisory LLC purchased a new position in shares of RxSight during the fourth quarter valued at approximately $52,000. Finally, Global Retirement Partners LLC purchased a new position in shares of RxSight during the fourth quarter valued at approximately $69,000. Hedge funds and other institutional investors own 78.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RXST shares. Bank of America reaffirmed an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus reduced their price target on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.60.

RxSight Stock Performance

Shares of RXST stock traded up $0.16 during trading hours on Tuesday, reaching $14.58. The company had a trading volume of 156,780 shares, compared to its average volume of 604,168. The business has a fifty day moving average price of $25.23 and a 200-day moving average price of $35.89. RxSight, Inc. has a one year low of $13.50 and a one year high of $66.54. The firm has a market cap of $590.40 million, a PE ratio of -17.54 and a beta of 1.26.

RxSight (NASDAQ:RXST - Get Free Report) 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 company had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Equities research analysts forecast that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

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

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.