Quest Partners LLC Makes New Investment in RxSight, Inc. (NASDAQ:RXST)

Quest Partners LLC purchased a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 688 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CWM LLC boosted its holdings in RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of RxSight during the 1st quarter worth about $51,000. RiverPark Advisors LLC boosted its stake in shares of RxSight by 361.4% during the 1st quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock worth $159,000 after acquiring an additional 2,414 shares in the last quarter. Amalgamated Bank increased its holdings in shares of RxSight by 7.7% during the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after acquiring an additional 298 shares during the last quarter. Finally, Clear Rock Advisors LLC bought a new position in shares of RxSight in the 4th quarter valued at approximately $172,000. Institutional investors own 78.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RXST. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. BTIG Research raised their target price on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer dropped their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Stifel Nicolaus decreased their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Wells Fargo & Company lowered their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $60.14.

RxSight Trading Down 3.5 %

Shares of RXST stock opened at $54.16 on Thursday. The firm has a market capitalization of $2.00 billion, a P/E ratio of -42.98 and a beta of 1.22. RxSight, Inc. has a 1 year low of $20.66 and a 1 year high of $66.54. The firm’s fifty day simple moving average is $50.73 and its 200 day simple moving average is $53.97.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The company had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The business’s revenue was up 67.6% compared to the same quarter last year. Equities research analysts anticipate that RxSight, Inc. will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ilya Goldshleger sold 9,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at $1,658,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $58.61, for a total transaction of $586,100.00. Following the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. 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.