Lighthouse Investment Partners LLC Acquires New Stake in RxSight, Inc. (NASDAQ:RXST)

Lighthouse Investment Partners LLC acquired a new stake in shares of RxSight, Inc. (NASDAQ:RXST) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,433 shares of the company’s stock, valued at approximately $904,000. Lighthouse Investment Partners LLC owned about 0.06% of RxSight as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. RiverPark Advisors LLC boosted its stake in RxSight by 70.0% in the 4th 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. Amalgamated Bank boosted its stake in RxSight by 7.7% in the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after buying an additional 298 shares during the last quarter. Clear Rock Advisors LLC acquired a new stake in RxSight in the 4th quarter worth about $172,000. Clarus Group Inc. acquired a new stake in RxSight in the 4th quarter worth about $202,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in RxSight in the 4th quarter worth about $212,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RXST. JPMorgan Chase & Co. raised their price objective on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Wells Fargo & Company raised their price objective on RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Oppenheimer raised their price objective on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. BTIG Research raised their target price on RxSight from $61.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Needham & Company LLC raised their target price on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.63.

RxSight Stock Performance

RXST stock opened at $58.95 on Tuesday. The stock’s 50 day moving average is $57.28 and its two-hundred day moving average is $49.55. RxSight, Inc. has a 52-week low of $20.66 and a 52-week high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. During the same quarter last year, the firm posted ($0.42) EPS. The company’s revenue was up 68.7% compared to the same quarter last year. As a group, equities research analysts predict that RxSight, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at RxSight

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total transaction of $526,900.00. Following the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $734,393.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction 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 sale, 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 90 days, insiders have sold 70,000 shares of company stock valued at $3,930,900. Corporate 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.