Los Angeles Capital Management LLC Invests $988,000 in RxSight, Inc. (NASDAQ:RXST)

Los Angeles Capital Management LLC acquired a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,978 shares of the company’s stock, valued at approximately $988,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares in the last quarter. Arista Wealth Management LLC acquired a new stake in shares of RxSight in the 3rd quarter worth approximately $258,000. Nisa Investment Advisors LLC increased its stake in 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 purchasing an additional 521 shares in the last quarter. Sara Bay Financial raised its holdings in RxSight by 0.8% during the third quarter. Sara Bay Financial now owns 108,853 shares of the company’s stock worth $5,381,000 after purchasing an additional 832 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in RxSight during the second quarter worth $3,670,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insider Activity

In related news, insider Ilya Goldshleger sold 1,330 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $46.13, for a total value of $61,352.90. Following the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,948,807.98. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jesse Anderson Corley purchased 11,111 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the transaction, the director now directly owns 468,571 shares of the company’s stock, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 44,745 shares of company stock valued at $2,240,200 over the last quarter. Company insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RXST shares. Oppenheimer dropped their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research report on Friday, September 13th. Stifel Nicolaus cut their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lowered their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.63.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $45.05 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of -54.28 and a beta of 1.19. RxSight, Inc. has a 1 year low of $27.07 and a 1 year high of $66.54. The firm’s 50 day moving average price is $50.32 and its 200 day moving average price is $53.27.

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.