RxSight, Inc. (NASDAQ:RXST) Shares Sold by Sara Bay Financial

Sara Bay Financial decreased its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,829 shares of the company’s stock after selling 4,035 shares during the period. RxSight makes up about 1.1% of Sara Bay Financial’s holdings, making the stock its 14th biggest position. Sara Bay Financial’s holdings in RxSight were worth $2,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RXST. Vanguard Group Inc. boosted its stake in shares of RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after acquiring an additional 96,464 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after purchasing an additional 413,737 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after purchasing an additional 381,389 shares during the period. Geode Capital Management LLC increased its holdings in shares of RxSight by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock worth $28,568,000 after buying an additional 13,641 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of RxSight by 1.6% during the 4th quarter. Deutsche Bank AG now owns 657,224 shares of the company’s stock worth $22,595,000 after buying an additional 10,634 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Price Performance

Shares of RxSight stock opened at $15.04 on Friday. The business has a 50-day moving average of $15.17 and a 200-day moving average of $26.88. The company has a market capitalization of $611.18 million, a PE ratio of -18.12 and a beta of 1.29. RxSight, Inc. has a 1-year low of $12.53 and a 1-year high of $60.81.

RxSight (NASDAQ:RXST) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $37.90 million during the quarter, compared to the consensus estimate 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 was up 28.5% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. On average, equities analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America restated an “underperform” rating and set a $22.00 price objective (down from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Wells Fargo & Company upgraded RxSight from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $25.00 in a report on Monday, May 19th. Piper Sandler assumed coverage on RxSight in a report on Tuesday, April 15th. They set a “neutral” rating and a $18.00 price objective for the company. UBS Group downgraded RxSight from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Finally, Stifel Nicolaus dropped their price objective on RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.90.

RxSight 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.