Hanover Advisors Inc. Buys 1,000 Shares of RxSight, Inc. (NASDAQ:RXST)

Hanover Advisors Inc. grew its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,498 shares of the company’s stock after buying an additional 1,000 shares during the period. Hanover Advisors Inc.’s holdings in RxSight were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RXST. Brown Capital Management LLC bought a new position in shares of RxSight in the third quarter worth approximately $26,813,000. Point72 Asset Management L.P. increased its position in shares of RxSight by 610.2% in the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after purchasing an additional 384,041 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of RxSight in the third quarter worth approximately $11,350,000. RA Capital Management L.P. increased its position in shares of RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after purchasing an additional 222,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Performance

NASDAQ:RXST opened at $28.36 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of -34.17 and a beta of 1.19. RxSight, Inc. has a fifty-two week low of $26.29 and a fifty-two week high of $66.54. The business has a 50 day moving average price of $32.31 and a 200-day moving average price of $43.10.

RxSight (NASDAQ:RXST) last released its quarterly earnings data 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). The company had revenue of $40.21 million for the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Research analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other RxSight news, Director Jesse Anderson Corley bought 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now directly owns 1,443 shares in the company, valued at $44,992.74. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. This represents a 32.28 % decrease in their position. 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.