M&G Plc Buys New Stake in RxSight, Inc. (NASDAQ:RXST)

M&G Plc bought a new stake in RxSight, Inc. (NASDAQ:RXST) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 141,428 shares of the company’s stock, valued at approximately $7,354,000. M&G Plc owned 0.38% of RxSight as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of RxSight in the first quarter valued at approximately $1,929,000. Capstone Investment Advisors LLC acquired a new position in RxSight in the 4th quarter worth $642,000. Principal Financial Group Inc. boosted its stake in RxSight by 298.5% in the 1st quarter. Principal Financial Group Inc. now owns 34,928 shares of the company’s stock worth $1,802,000 after purchasing an additional 26,164 shares during the period. Baillie Gifford & Co. bought a new stake in RxSight during the 1st quarter worth about $3,429,000. Finally, Victory Capital Management Inc. lifted its position in RxSight by 108.6% during the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after buying an additional 133,642 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

Insider Transactions at RxSight

In other news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Julie Andrews sold 15,625 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the sale, the director now directly owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $734,393.22. The disclosure for this sale can be found here. Insiders have sold 75,625 shares of company stock valued at $4,425,250 in the last quarter. Insiders own 9.36% of the company’s stock.

RxSight Stock Performance

NASDAQ RXST traded up $0.73 on Friday, hitting $46.77. The stock had a trading volume of 617,799 shares, compared to its average volume of 627,285. RxSight, Inc. has a 52-week low of $20.66 and a 52-week high of $66.54. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -37.12 and a beta of 1.20. The firm has a 50-day moving average of $57.04 and a 200-day moving average of $53.25.

RxSight (NASDAQ:RXST) last posted its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The firm had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. During the same quarter in the prior year, the company earned ($0.42) earnings per share. The business’s revenue for the quarter was up 68.7% compared to the same quarter last year. As a group, research analysts anticipate that RxSight, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of RxSight from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. BTIG Research increased their price objective on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC raised their price target on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Company lifted their target price on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, Oppenheimer raised their price target on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, RxSight has an average rating of “Buy” and an average target price of $65.14.

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.