RxSight, Inc. (NASDAQ:RXST) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 228,223 shares of the company’s stock after selling 1,150 shares during the quarter. Russell Investments Group Ltd.’s holdings in RxSight were worth $9,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RXST. New York State Common Retirement Fund grew its holdings in shares of RxSight by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 135,438 shares of the company’s stock worth $5,461,000 after buying an additional 27,758 shares in the last quarter. Clarus Group Inc. purchased a new stake in RxSight in the 4th quarter worth approximately $202,000. Arizona State Retirement System acquired a new position in RxSight in the 4th quarter valued at $261,000. Legato Capital Management LLC lifted its stake in shares of RxSight by 57.2% during the 4th quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock worth $819,000 after purchasing an additional 7,395 shares during the period. Finally, RiverPark Advisors LLC boosted its holdings in shares of RxSight by 70.0% during the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stifel Nicolaus lifted their price target on RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. Finally, Oppenheimer boosted their target price on shares of RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $50.13.

RxSight Stock Up 1.9 %

RxSight stock opened at $62.84 on Tuesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of -43.94 and a beta of 1.21. The firm has a fifty day moving average of $52.73 and a 200-day moving average of $43.06. RxSight, Inc. has a 52-week low of $18.35 and a 52-week high of $64.92.

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

Insider Activity

In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the completion of the transaction, the chief financial officer now directly owns 13,691 shares in the company, valued at approximately $771,761.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold 90,365 shares of company stock worth $5,020,520 over the last 90 days. Company insiders own 21.13% of the company’s stock.

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.