Panoramic Capital LLC Makes New $761,000 Investment in RxSight, Inc. (NASDAQ:RXST)

Panoramic Capital LLC purchased a new position in RxSight, Inc. (NASDAQ:RXST) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,127 shares of the company’s stock, valued at approximately $761,000. Panoramic Capital LLC owned about 0.05% of RxSight at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RXST. Mountain Capital Investment Advisors Inc. boosted its holdings in shares of RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after buying an additional 320 shares during the last quarter. Wells Fargo & Company MN raised its holdings in RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after buying an additional 445 shares during the period. Legal & General Group Plc boosted its position in shares of RxSight by 1.2% during the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company’s stock valued at $1,459,000 after buying an additional 512 shares during the period. F M Investments LLC increased its stake in RxSight by 12.6% in the 4th quarter. F M Investments LLC now owns 5,901 shares of the company’s stock worth $203,000 after buying an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC raised its position in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after purchasing an additional 672 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RXST. UBS Group downgraded shares of RxSight from a “buy” rating to a “neutral” rating and cut their price objective for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Bank of America restated an “underperform” rating and set a $22.00 price target (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Piper Sandler assumed coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company lowered their price objective on RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.60.

RxSight Price Performance

NASDAQ RXST opened at $13.20 on Wednesday. RxSight, Inc. has a 1-year low of $13.03 and a 1-year high of $64.50. The business’s 50-day simple moving average is $18.77 and its 200-day simple moving average is $30.88. The firm has a market capitalization of $536.41 million, a P/E ratio of -15.90 and a beta of 1.32.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $38.74 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm’s revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) earnings per share. On average, equities research analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by 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.