Thrivent Financial for Lutherans Lowers Holdings in RxSight, Inc. $RXST

Thrivent Financial for Lutherans decreased its holdings in RxSight, Inc. (NASDAQ:RXST) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,220 shares of the company’s stock after selling 139,382 shares during the period. Thrivent Financial for Lutherans owned 0.76% of RxSight worth $4,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RXST. Vanguard Group Inc. lifted its holdings in RxSight by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,392,052 shares of the company’s stock worth $60,399,000 after purchasing an additional 8,504 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of RxSight by 27.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock valued at $29,283,000 after buying an additional 485,021 shares during the last quarter. Brown Capital Management LLC lifted its holdings in shares of RxSight by 18.2% in the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after buying an additional 171,952 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of RxSight by 885.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company’s stock worth $18,176,000 after acquiring an additional 646,791 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its position in shares of RxSight by 109.9% during the first quarter. Parkman Healthcare Partners LLC now owns 631,238 shares of the company’s stock worth $15,939,000 after acquiring an additional 330,540 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Trading Down 2.3%

RXST opened at $12.03 on Friday. The stock has a 50-day moving average of $10.18 and a 200 day moving average of $9.99. RxSight, Inc. has a 12 month low of $6.32 and a 12 month high of $37.13. The firm has a market cap of $494.67 million, a P/E ratio of -13.67 and a beta of 1.14.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.15. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $25.63 million. RxSight had a negative return on equity of 12.82% and a negative net margin of 25.15%.The company’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. On average, research analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on RXST shares. Wells Fargo & Company boosted their price target on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Needham & Company LLC lifted their target price on RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Morgan Stanley increased their price target on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Zacks Research upgraded RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Finally, JPMorgan Chase & Co. upped their price objective on RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.67.

RxSight Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.