Alberta Investment Management Corp Cuts Position in RxSight, Inc. (NASDAQ:RXST)

Alberta Investment Management Corp lowered its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,972 shares of the company’s stock after selling 25,602 shares during the period. Alberta Investment Management Corp owned about 0.06% of RxSight worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after acquiring an additional 240 shares in the last quarter. Quarry LP raised its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in RxSight by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares in the last quarter. MCIA Inc grew its holdings in RxSight by 5.7% in the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares during the last quarter. Finally, KBC Group NV increased its position in shares of RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after buying an additional 479 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

Shares of RXST opened at $29.60 on Friday. RxSight, Inc. has a fifty-two week low of $26.29 and a fifty-two week high of $66.54. The company has a market capitalization of $1.19 billion, a PE ratio of -35.66 and a beta of 1.19. The stock has a fifty day moving average of $33.14 and a two-hundred day moving average of $43.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a research note on Monday, January 13th. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

Insider Activity

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 of the company’s stock, valued at $227,913.21. This trade represents a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jesse Anderson Corley purchased 1,443 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the acquisition, the director now owns 1,443 shares in the company, valued at $44,992.74. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 13,506 shares of company stock valued at $567,456 over the last quarter. Company insiders own 9.36% of the company’s stock.

About RxSight

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.