Northern Trust Corp Has $11.07 Million Position in RxSight, Inc. $RXST

Northern Trust Corp increased its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 438,425 shares of the company’s stock after acquiring an additional 35,021 shares during the period. Northern Trust Corp owned about 1.08% of RxSight worth $11,070,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in RxSight during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. grew its holdings in RxSight by 161.2% during the first quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock valued at $103,000 after purchasing an additional 2,525 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in RxSight during the fourth quarter valued at approximately $204,000. Summit Global Investments grew its holdings in RxSight by 24.7% during the first quarter. Summit Global Investments now owns 8,393 shares of the company’s stock valued at $212,000 after purchasing an additional 1,664 shares during the period. Finally, GAMMA Investing LLC grew its holdings in RxSight by 12,990.8% during the first quarter. GAMMA Investing LLC now owns 8,509 shares of the company’s stock valued at $215,000 after purchasing an additional 8,444 shares during the period. 78.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RXST. BTIG Research reiterated a “neutral” rating on shares of RxSight in a report on Wednesday, July 9th. Needham & Company LLC cut their price target on shares of RxSight from $22.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target (down previously from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Stifel Nicolaus cut their target price on shares of RxSight from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley cut shares of RxSight from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $9.00 in a research note on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, RxSight currently has a consensus rating of “Reduce” and a consensus price target of $10.00.

RxSight Price Performance

RXST opened at $8.47 on Friday. RxSight, Inc. has a fifty-two week low of $6.32 and a fifty-two week high of $57.53. The firm has a market capitalization of $346.59 million, a price-to-earnings ratio of -10.59 and a beta of 1.18. The company’s 50 day moving average price is $8.85 and its two-hundred day moving average price is $15.36.

RxSight (NASDAQ:RXST) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $33.64 million for the quarter, compared to the consensus estimate of $39.78 million. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The company’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) earnings per share. As a group, equities research analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

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.