RxSight, Inc. (NASDAQ:RXST) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,331 shares of the company’s stock after selling 4,903 shares during the quarter. Granite Investment Partners LLC’s holdings in RxSight were worth $6,234,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RXST. DF Dent & Co. Inc. purchased a new stake in RxSight during the 4th quarter worth approximately $14,524,000. Artisan Partners Limited Partnership lifted its stake in shares of RxSight by 32.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after buying an additional 381,389 shares during the period. Renaissance Technologies LLC grew its holdings in shares of RxSight by 102.9% during the fourth quarter. Renaissance Technologies LLC now owns 361,500 shares of the company’s stock valued at $12,428,000 after buying an additional 183,300 shares during the last quarter. Vitruvian Partners LLP acquired a new position in shares of RxSight in the 4th quarter valued at $4,961,000. Finally, Thrivent Financial for Lutherans increased its position in shares of RxSight by 53.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 352,626 shares of the company’s stock valued at $12,124,000 after acquiring an additional 122,989 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RXST. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Stifel Nicolaus cut their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $17.00 price target (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.78.

RxSight Price Performance

Shares of NASDAQ RXST opened at $14.08 on Friday. The firm’s 50 day simple moving average is $25.63 and its 200-day simple moving average is $36.22. RxSight, Inc. has a 12 month low of $13.50 and a 12 month high of $66.54. The stock has a market capitalization of $570.11 million, a price-to-earnings ratio of -16.96 and a beta of 1.26.

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 firm had revenue of $40.21 million for the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity

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

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.