Allspring Global Investments Holdings LLC Sells 12,412 Shares of RxSight, Inc. (NASDAQ:RXST)

Allspring Global Investments Holdings LLC lowered its stake in RxSight, Inc. (NASDAQ:RXST) by 6.6% in the 2nd quarter, Holdings Channel reports. The firm owned 174,941 shares of the company’s stock after selling 12,412 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RxSight were worth $10,526,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in shares of RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after purchasing an additional 298 shares during the period. CWM LLC raised its holdings in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares in the last quarter. FORA Capital LLC boosted its position in shares of RxSight by 5.6% during the 1st quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock valued at $603,000 after acquiring an additional 622 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of RxSight during the 1st quarter valued at about $51,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of RxSight by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock worth $3,143,000 after purchasing an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RXST. Stifel Nicolaus lowered their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC lifted their price objective on shares of RxSight from $54.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wells Fargo & Company cut their target price on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Oppenheimer lowered their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, BTIG Research lifted their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.14.

RxSight Stock Performance

RXST stock opened at $56.39 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of -44.75 and a beta of 1.19. The firm’s fifty day moving average is $51.42 and its 200 day moving average is $54.02. 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 data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The company’s revenue for the quarter was up 67.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) earnings per share. As a group, analysts forecast that RxSight, Inc. will post -0.77 EPS for the current year.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now 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. In other news, insider Ilya Goldshleger sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.25, for a total value of $353,250.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at $1,658,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie Andrews sold 15,625 shares of RxSight stock in a transaction on Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the transaction, the director now directly owns 30,287 shares in the company, valued at $1,756,646. The disclosure for this sale can be found here. Insiders have sold a total of 34,625 shares of company stock worth $1,845,600 in the last ninety days. 9.36% of the stock is owned by insiders.

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.