HighTower Advisors LLC Sells 4,689 Shares of RxSight, Inc. (NASDAQ:RXST)

HighTower Advisors LLC decreased its position in shares of RxSight, Inc. (NASDAQ:RXST) by 36.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,324 shares of the company’s stock after selling 4,689 shares during the quarter. HighTower Advisors LLC’s holdings in RxSight were worth $286,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP lifted its stake in shares of RxSight by 82.3% during the 3rd 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. Point72 Hong Kong Ltd bought a new position in shares of RxSight during the 3rd quarter worth approximately $34,000. Private Trust Co. NA purchased a new stake in RxSight during the fourth quarter valued at approximately $34,000. Arcadia Investment Management Corp MI acquired a new stake in RxSight in the fourth quarter valued at approximately $46,000. Finally, Harbor Investment Advisory LLC purchased a new position in RxSight in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Price Performance

Shares of RxSight stock opened at $26.12 on Thursday. The stock has a market cap of $1.06 billion, a PE ratio of -31.47 and a beta of 1.22. The firm has a fifty day moving average price of $28.77 and a 200 day moving average price of $38.46. RxSight, Inc. has a 1 year low of $24.09 and a 1 year high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The company had revenue of $40.21 million for the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. As a group, equities analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Activity at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares of the company’s stock, valued at $637,428.03. This represents a 22.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jesse Anderson Corley purchased 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average price of $31.18 per share, with a total value of $44,992.74. Following the purchase, the director now owns 1,443 shares in the company, valued at $44,992.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RXST shares. Wells Fargo & Company decreased their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of RxSight in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group started coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.33.

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.