RxSight, Inc. (NASDAQ:RXST) Stock Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in RxSight, Inc. (NASDAQ:RXST) by 102.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361,500 shares of the company’s stock after buying an additional 183,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of RxSight worth $12,428,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of RxSight by 4.2% during the fourth 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. Artisan Partners Limited Partnership raised its holdings 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 valued at $53,345,000 after purchasing an additional 381,389 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RxSight by 1.7% in the fourth 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. State Street Corp boosted its stake in shares of RxSight by 8.3% during the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after acquiring an additional 62,349 shares in the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in shares of RxSight during the 4th quarter valued at about $14,524,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $17.00 target price (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group lowered shares of RxSight from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Bank of America reaffirmed an “underperform” rating and issued a $22.00 price target (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of RxSight in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RxSight has an average rating of “Hold” and an average price target of $37.60.

RxSight Trading Up 1.4 %

Shares of NASDAQ:RXST opened at $14.62 on Wednesday. The business’s 50 day moving average is $24.85 and its 200-day moving average is $35.75. The firm has a market capitalization of $591.98 million, a PE ratio of -17.61 and a beta of 1.26. RxSight, Inc. has a 1-year low of $13.50 and a 1-year high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). The business 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%. On average, sell-side analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Activity

In related news, Director Tamara Fountain sold 7,000 shares of RxSight 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 completion of the transaction, the director now directly owns 24,793 shares of the company’s stock, valued at $637,428.03. This trade represents a 22.02 % decrease in their position. The sale 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 dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total transaction of $108,631.53. Following the sale, 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. Corporate insiders own 9.36% of the company’s stock.

RxSight Company 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.