RxSight, Inc. (NASDAQ:RXST) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 62.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,341 shares of the company’s stock after selling 68,117 shares during the period. First Trust Advisors LP owned about 0.10% of RxSight worth $1,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in shares of RxSight in the fourth quarter valued at $34,000. Arcadia Investment Management Corp MI acquired a new stake in RxSight in the 4th quarter valued at about $46,000. Harbor Investment Advisory LLC purchased a new position in shares of RxSight in the 4th quarter valued at about $52,000. Global Retirement Partners LLC acquired a new position in shares of RxSight during the fourth quarter worth about $69,000. Finally, KBC Group NV increased its stake in shares of RxSight by 71.0% during the fourth quarter. KBC Group NV now owns 2,107 shares of the company’s stock worth $72,000 after buying an additional 875 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now directly owns 24,793 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 9.36% of the stock is currently owned by insiders.

RxSight Trading Down 4.7 %

Shares of NASDAQ RXST opened at $13.95 on Wednesday. The stock has a market cap of $566.65 million, a P/E ratio of -16.81 and a beta of 1.32. RxSight, Inc. has a twelve month low of $13.50 and a twelve month high of $66.54. The stock has a 50 day moving average of $20.09 and a two-hundred day moving average of $32.14.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) 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 analysts’ expectations of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. As a group, research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RXST. Wells Fargo & Company lowered their price target on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Piper Sandler assumed coverage on RxSight in a report on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Bank of America restated an “underperform” rating and issued a $22.00 price target (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. UBS Group cut RxSight from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus cut their target price on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, RxSight has a consensus rating of “Hold” and a consensus price target of $37.60.

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.