Carnegie Lake Advisors LLC Purchases 87,345 Shares of RxSight, Inc. $RXST

Carnegie Lake Advisors LLC boosted its position in shares of RxSight, Inc. (NASDAQ:RXST) by 81.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,345 shares of the company’s stock after purchasing an additional 87,345 shares during the period. Carnegie Lake Advisors LLC owned about 0.47% of RxSight worth $1,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming increased its holdings in shares of RxSight by 91.5% during the first quarter. State of Wyoming now owns 2,062 shares of the company’s stock worth $52,000 after buying an additional 985 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in RxSight during the 2nd quarter valued at $28,000. Bessemer Group Inc. bought a new position in RxSight in the 2nd quarter valued at $33,000. Russell Investments Group Ltd. boosted its stake in RxSight by 161.2% in the first quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock worth $103,000 after purchasing an additional 2,525 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of RxSight by 614.1% during the second quarter. CWM LLC now owns 4,520 shares of the company’s stock worth $59,000 after purchasing an additional 3,887 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $10.79 on Wednesday. The stock has a market cap of $443.68 million, a price-to-earnings ratio of -12.26 and a beta of 1.14. The company has a 50 day moving average of $10.61 and a 200-day moving average of $9.77. RxSight, Inc. has a one year low of $6.32 and a one year high of $37.13.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RXST. Needham & Company LLC lifted their price target on RxSight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Zacks Research raised shares of RxSight from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Morgan Stanley increased their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company boosted their price objective on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Stifel Nicolaus set a $10.00 price objective on RxSight in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus 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.