Granite Investment Partners LLC Sells 4,903 Shares of RxSight, Inc. (NASDAQ:RXST)

Granite Investment Partners LLC lowered its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,331 shares of the company’s stock after selling 4,903 shares during the quarter. Granite Investment Partners LLC owned 0.45% of RxSight worth $6,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA bought a new position in shares of RxSight in the 4th quarter valued at about $34,000. Arcadia Investment Management Corp MI bought a new stake in RxSight during the fourth quarter worth approximately $46,000. Harbor Investment Advisory LLC purchased a new stake in RxSight during the fourth quarter valued at approximately $52,000. Global Retirement Partners LLC bought a new stake in shares of RxSight in the 4th quarter valued at approximately $69,000. Finally, KBC Group NV boosted its holdings in shares of RxSight by 71.0% in the 4th quarter. KBC Group NV now owns 2,107 shares of the company’s stock worth $72,000 after purchasing an additional 875 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RXST has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. UBS Group lowered shares of RxSight from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $16.00 in a report on Wednesday. Bank of America reiterated an “underperform” rating and set a $22.00 price target (down from $36.00) on shares of RxSight in a report on Thursday, April 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $17.00 price objective (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Finally, Wells Fargo & Company cut their target price 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.78.

RxSight Stock Performance

RxSight stock opened at $14.08 on Friday. The company has a market capitalization of $570.11 million, a PE ratio of -16.96 and a beta of 1.26. The company has a 50 day moving average price of $25.63 and a 200-day moving average price of $36.22. RxSight, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last issued its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. On average, analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $227,913.21. This trade represents a 32.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction on 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 directly owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is 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.