Russell Investments Group Ltd. Trims Stock Holdings in RxSight, Inc. (NASDAQ:RXST)

Russell Investments Group Ltd. lowered its position in shares of RxSight, Inc. (NASDAQ:RXST) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 228,223 shares of the company’s stock after selling 1,150 shares during the quarter. Russell Investments Group Ltd. owned about 0.64% of RxSight worth $9,202,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RXST. New York State Common Retirement Fund boosted its holdings in shares of RxSight by 25.8% in the 4th quarter. New York State Common Retirement Fund now owns 135,438 shares of the company’s stock valued at $5,461,000 after acquiring an additional 27,758 shares during the last quarter. Clarus Group Inc. acquired a new stake in RxSight during the 4th quarter worth about $202,000. Arizona State Retirement System purchased a new position in shares of RxSight during the 4th quarter valued at about $261,000. Legato Capital Management LLC lifted its holdings in shares of RxSight by 57.2% in the 4th quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock valued at $819,000 after buying an additional 7,395 shares during the period. Finally, RiverPark Advisors LLC boosted its stake in shares of RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the transaction, the chief executive officer now owns 764,610 shares in the company, valued at $45,991,291.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 owns 8,402 shares in the company, valued at approximately $419,259.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the transaction, the chief executive officer now directly owns 764,610 shares in the company, valued at $45,991,291.50. The disclosure for this sale can be found here. In the last three months, insiders sold 90,365 shares of company stock worth $5,020,520. Corporate insiders own 21.13% of the company’s stock.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $62.84 on Tuesday. The firm has a market cap of $2.32 billion, a PE ratio of -43.94 and a beta of 1.21. RxSight, Inc. has a one year low of $18.35 and a one year high of $64.92. The firm has a fifty day moving average of $52.73 and a 200 day moving average of $43.06.

RxSight (NASDAQ:RXST) last released its earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business had revenue of $28.58 million during the quarter, compared to analysts’ expectations of $28.60 million. On average, equities analysts predict that RxSight, Inc. will post -0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RXST. JPMorgan Chase & Co. lifted their price target on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stifel Nicolaus boosted their target price on shares of RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer increased their price target on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $50.13.

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.