Panoramic Capital LLC Takes $761,000 Position in RxSight, Inc. (NASDAQ:RXST)

Panoramic Capital LLC acquired a new position in shares of RxSight, Inc. (NASDAQ:RXST) in the fourth quarter, HoldingsChannel reports. The fund acquired 22,127 shares of the company’s stock, valued at approximately $761,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock valued at $81,946,000 after acquiring an additional 96,464 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of RxSight by 23.7% during the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after buying an additional 413,737 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after purchasing an additional 381,389 shares during the period. Geode Capital Management LLC raised its stake in RxSight by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock valued at $28,568,000 after purchasing an additional 13,641 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in RxSight by 1.6% during the fourth quarter. Deutsche Bank AG now owns 657,224 shares of the company’s stock worth $22,595,000 after purchasing an additional 10,634 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RXST has been the topic of several recent research reports. Bank of America reissued an “underperform” rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 price target (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Piper Sandler assumed coverage on RxSight in a research report on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 target price for the company. Wells Fargo & Company dropped their target price on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Finally, UBS Group downgraded shares of RxSight from a “buy” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.60.

Insider Transactions at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, the director now owns 24,793 shares of the company’s stock, valued at $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.36% of the company’s stock.

RxSight Trading Down 4.0%

Shares of NASDAQ:RXST opened at $13.20 on Wednesday. The company has a market cap of $536.41 million, a PE ratio of -15.90 and a beta of 1.32. RxSight, Inc. has a 12-month low of $13.03 and a 12-month high of $64.50. The stock has a 50 day moving average of $18.77 and a 200 day moving average of $30.88.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $38.74 million. During the same period in the prior year, the firm earned ($0.25) EPS. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. Equities research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

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.