Allspring Global Investments Holdings LLC Reduces Stock Position in RxSight, Inc. (NASDAQ:RXST)

Allspring Global Investments Holdings LLC lessened its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,970 shares of the company’s stock after selling 54,376 shares during the period. Allspring Global Investments Holdings LLC owned about 0.53% of RxSight worth $7,619,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RXST. JPMorgan Chase & Co. increased its stake in shares of RxSight by 52.2% during the first quarter. JPMorgan Chase & Co. now owns 8,227 shares of the company’s stock valued at $102,000 after buying an additional 2,820 shares during the period. Bank of New York Mellon Corp increased its position in RxSight by 123.8% during the 1st quarter. Bank of New York Mellon Corp now owns 38,663 shares of the company’s stock valued at $479,000 after purchasing an additional 21,385 shares during the period. Rhumbline Advisers purchased a new position in RxSight during the 1st quarter valued at $153,000. BlackRock Inc. raised its holdings in RxSight by 86.0% in the 1st quarter. BlackRock Inc. now owns 735,589 shares of the company’s stock worth $9,106,000 after purchasing an additional 340,091 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of RxSight by 89.1% in the 1st quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock worth $7,908,000 after purchasing an additional 301,055 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Down 2.7 %

Shares of NASDAQ RXST opened at $52.83 on Thursday. The company has a 50 day simple moving average of $52.44 and a two-hundred day simple moving average of $40.54. RxSight, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $58.21.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $28.58 million during the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. Analysts predict that RxSight, Inc. will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In other news, CFO Shelley B. Thunen sold 20,000 shares of RxSight stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the completion of the transaction, the chief financial officer now owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the sale, the chief financial officer now directly owns 13,691 shares in the company, valued at approximately $771,761.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shelley B. Thunen sold 20,000 shares of RxSight stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the completion of the sale, the chief financial officer now directly owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,641 shares of company stock valued at $6,988,022. Insiders own 21.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on RXST shares. Stifel Nicolaus boosted their price target on shares of RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer increased their target price on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of RxSight in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.63.

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.