Thrivent Financial for Lutherans Increases Position in RxSight, Inc. (NASDAQ:RXST)

Thrivent Financial for Lutherans increased its stake in RxSight, Inc. (NASDAQ:RXST) by 53.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 352,626 shares of the company’s stock after acquiring an additional 122,989 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RxSight were worth $12,124,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RXST. Quarry LP increased its holdings in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in RxSight in the 3rd quarter valued at about $34,000. Private Trust Co. NA acquired a new stake in RxSight in the 4th quarter valued at about $34,000. Arcadia Investment Management Corp MI acquired a new stake in RxSight in the 4th quarter valued at about $46,000. Finally, Harbor Investment Advisory LLC acquired a new stake in RxSight in the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. This trade represents a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tamara Fountain sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by insiders.

RxSight Stock Performance

RXST opened at $24.84 on Friday. The company’s 50 day simple moving average is $29.63 and its 200 day simple moving average is $40.05. RxSight, Inc. has a 1 year low of $24.09 and a 1 year high of $66.54. The stock has a market capitalization of $1.01 billion, a PE ratio of -29.93 and a beta of 1.22.

RxSight (NASDAQ:RXST) last released its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. As a group, sell-side analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday. Bank of America lowered their price objective on shares of RxSight from $60.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of RxSight in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

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.