76,816 Shares in RxSight, Inc. (NASDAQ:RXST) Bought by SVB Wealth LLC

SVB Wealth LLC acquired a new position in shares of RxSight, Inc. (NASDAQ:RXST) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,816 shares of the company’s stock, valued at approximately $2,641,000.

A number of other large investors have also recently bought and sold shares of RXST. Nisa Investment Advisors LLC raised its position in shares of RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares in the last quarter. Quarry LP increased its stake in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in RxSight during the third quarter valued at approximately $34,000. Private Trust Co. NA bought a new stake in RxSight during the fourth quarter worth $34,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of RxSight in the 4th quarter valued at $46,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RXST. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of RxSight in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Finally, Stifel Nicolaus cut their price target on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.63.

RxSight Trading Up 0.5 %

Shares of RXST opened at $28.36 on Friday. The company has a market capitalization of $1.14 billion, a PE ratio of -34.17 and a beta of 1.19. The stock’s 50-day moving average price is $32.31 and its two-hundred day moving average price is $43.05. RxSight, Inc. has a 12 month low of $26.29 and a 12 month high of $66.54.

RxSight (NASDAQ:RXST) last announced its earnings results on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.25). The company had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Equities research analysts predict that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average cost of $31.18 per share, with a total value of $44,992.74. Following the transaction, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

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.