Arizona State Retirement System Purchases New Shares in RxSight, Inc. (NASDAQ:RXST)

Arizona State Retirement System purchased a new stake in shares of RxSight, Inc. (NASDAQ:RXST) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 6,477 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds also recently made changes to their positions in the company. RiverPark Advisors LLC boosted its position in shares of RxSight by 70.0% during the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of RxSight by 7.4% in the first quarter. California State Teachers Retirement System now owns 8,829 shares of the company’s stock worth $147,000 after acquiring an additional 609 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of RxSight by 31.9% in the third quarter. Lazard Asset Management LLC now owns 3,228 shares of the company’s stock worth $90,000 after acquiring an additional 781 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of RxSight by 7.3% in the third quarter. HighTower Advisors LLC now owns 13,256 shares of the company’s stock worth $369,000 after acquiring an additional 899 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of RxSight by 10.7% in the second quarter. American International Group Inc. now owns 9,638 shares of the company’s stock worth $136,000 after acquiring an additional 929 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Shelley B. Thunen sold 31,772 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.11, for a total transaction of $1,496,778.92. Following the transaction, the chief financial officer now directly owns 6,791 shares of the company’s stock, valued at $319,924.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other RxSight news, Director William J. Phd Link sold 28,250 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $49.67, for a total value of $1,403,177.50. Following the transaction, the director now owns 24,248 shares of the company’s stock, valued at $1,204,398.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shelley B. Thunen sold 31,772 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.11, for a total value of $1,496,778.92. Following the completion of the transaction, the chief financial officer now directly owns 6,791 shares in the company, valued at approximately $319,924.01. The disclosure for this sale can be found here. Insiders have sold a total of 126,641 shares of company stock valued at $6,268,022 over the last ninety days. 21.13% of the stock is currently owned by corporate insiders.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $51.58 on Monday. The company has a market cap of $1.91 billion, a P/E ratio of -36.07 and a beta of 1.22. RxSight, Inc. has a 1 year low of $17.00 and a 1 year high of $58.21. The stock’s fifty day moving average price is $52.53 and its 200-day moving average price is $41.00.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $28.58 million for the quarter, compared to the consensus estimate of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on RXST. Oppenheimer increased their target price on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of RxSight in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus increased their target price on RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $49.63.

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.