RxSight, Inc. (NASDAQ:RXST) Shares Acquired by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC grew its holdings in RxSight, Inc. (NASDAQ:RXST) by 63.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,698 shares of the company’s stock after acquiring an additional 116,378 shares during the period. RxSight comprises approximately 1.4% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 27th largest position. Parkman Healthcare Partners LLC owned 0.75% of RxSight worth $10,338,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RXST. Vanguard Group Inc. grew its stake in shares of RxSight by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after purchasing an additional 96,464 shares in the last quarter. Bank of America Corp DE boosted its stake in RxSight by 23.7% in the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after acquiring an additional 413,737 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after acquiring an additional 381,389 shares in the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 13,641 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in RxSight by 1.6% in the fourth quarter. Deutsche Bank AG now owns 657,224 shares of the company’s stock valued at $22,595,000 after acquiring an additional 10,634 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Tamara Fountain sold 7,000 shares of the firm’s 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 sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

RxSight Price Performance

RXST stock opened at $13.20 on Wednesday. The company’s 50 day simple moving average is $18.77 and its 200-day simple moving average is $30.88. The firm has a market capitalization 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.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The business had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. During the same period in the prior year, the business earned ($0.25) earnings per share. The company’s quarterly revenue was up 28.5% on a year-over-year basis. As a group, sell-side analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RXST shares. Piper Sandler started coverage on shares of RxSight in a report on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Wells Fargo & Company cut their price target on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. reissued 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. Finally, Stifel Nicolaus cut their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.60.

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.