Federated Hermes Inc. Trims Stock Position in RxSight, Inc. (NASDAQ:RXST)

Federated Hermes Inc. cut its stake in RxSight, Inc. (NASDAQ:RXST) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,922 shares of the company’s stock after selling 47,669 shares during the period. Federated Hermes Inc.’s holdings in RxSight were worth $10,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clarus Group Inc. purchased a new stake in RxSight in the fourth quarter valued at $202,000. Arizona State Retirement System purchased a new stake in RxSight in the fourth quarter valued at $261,000. Legato Capital Management LLC lifted its position in RxSight by 57.2% in the fourth quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock valued at $819,000 after acquiring an additional 7,395 shares during the last quarter. RiverPark Advisors LLC lifted its position in RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after acquiring an additional 275 shares during the last quarter. Finally, Grey Street Capital LLC purchased a new stake in RxSight in the fourth quarter valued at $765,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Stock Up 4.9 %

Shares of NASDAQ:RXST opened at $54.92 on Wednesday. RxSight, Inc. has a one year low of $17.09 and a one year high of $58.21. The company has a 50-day simple moving average of $52.65 and a 200-day simple moving average of $41.38.

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

Insider Transactions at RxSight

In other news, CFO Shelley B. Thunen sold 31,772 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were 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 in the company, valued at $319,924.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RxSight news, CFO Shelley B. Thunen sold 31,772 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were 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 in the company, valued at $319,924.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Phd Link sold 28,250 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $49.67, for a total transaction of $1,403,177.50. Following the transaction, the director now owns 24,248 shares in the company, valued at $1,204,398.16. The disclosure for this sale can be found here. Insiders have sold a total of 126,641 shares of company stock worth $6,268,022 over the last ninety days. 21.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.