Inspire Investing LLC Cuts Holdings in RxSight, Inc. (NASDAQ:RXST)

Inspire Investing LLC lowered its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,016 shares of the company’s stock after selling 3,771 shares during the period. Inspire Investing LLC’s holdings in RxSight were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RXST. RA Capital Management L.P. raised its position in shares of RxSight by 1.1% in the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock worth $177,581,000 after acquiring an additional 38,540 shares in the last quarter. Vanguard Group Inc. raised its holdings in RxSight by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock worth $78,634,000 after purchasing an additional 40,500 shares in the last quarter. Parkman Healthcare Partners LLC lifted its position in shares of RxSight by 34.5% during the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after buying an additional 131,701 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of RxSight by 438.8% in the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after buying an additional 291,733 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of RxSight in the 2nd quarter worth approximately $14,942,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Insider Transactions at RxSight

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total value of $586,100.00. Following the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at $816,906.18. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

RxSight Stock Performance

RxSight stock opened at $52.98 on Friday. The business’s 50-day simple moving average is $50.87 and its two-hundred day simple moving average is $53.97. The company has a market cap of $1.96 billion, a PE ratio of -42.05 and a beta of 1.22. RxSight, Inc. has a fifty-two week low of $20.66 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last issued its earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm had revenue of $34.89 million for the quarter, compared to analyst estimates of $32.33 million. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. RxSight’s revenue for the quarter was up 67.6% on a year-over-year basis. As a group, analysts predict that RxSight, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.