Sherbrooke Park Advisers LLC Takes $204,000 Position in RxSight, Inc. (NASDAQ:RXST)

Sherbrooke Park Advisers LLC purchased a new stake in RxSight, Inc. (NASDAQ:RXST) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,947 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RXST. Private Trust Co. NA purchased a new position in RxSight during the 4th quarter worth $34,000. Coppell Advisory Solutions LLC grew its stake in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock worth $44,000 after buying an additional 672 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in RxSight during the 4th quarter worth $46,000. Harbor Investment Advisory LLC purchased a new position in RxSight during the 4th quarter worth $52,000. Finally, Global Retirement Partners LLC purchased a new position in RxSight during the 4th quarter worth $69,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on RXST shares. Wells Fargo & Company upgraded RxSight from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $25.00 in a research note on Monday. Bank of America restated an “underperform” rating and set a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 target price (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. Finally, Piper Sandler initiated coverage on RxSight in a research note on Tuesday, April 15th. They set a “neutral” rating and a $18.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RxSight presently has a consensus rating of “Hold” and a consensus price target of $37.90.

RxSight Stock Performance

RxSight stock opened at $16.62 on Wednesday. The business’s 50-day simple moving average is $17.72 and its two-hundred day simple moving average is $29.62. The company has a market cap of $675.39 million, a PE ratio of -20.02 and a beta of 1.32. RxSight, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $64.50.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $38.74 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. As a group, analysts predict that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares of the company’s stock, valued at $637,428.03. The trade was a 22.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.