Hsbc Holdings PLC acquired a new stake in RxSight, Inc. (NASDAQ:RXST – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 92,312 shares of the company’s stock, valued at approximately $445,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after buying an additional 1,232 shares during the last quarter. Invesco Ltd. raised its stake in shares of RxSight by 6.6% in the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock valued at $210,000 after buying an additional 1,249 shares during the period. Verition Fund Management LLC lifted its position in shares of RxSight by 4.4% during the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after buying an additional 1,701 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the period. 78.78% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Bank of America decreased their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. UBS Group upped their price objective on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.37.
Insider Transactions at RxSight
In other RxSight news, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $54,044.40. Following the completion of the transaction, the chief financial officer owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ronald M. Md Kurtz sold 5,100 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $35,496.00. Following the sale, the insider owned 71,775 shares in the company, valued at approximately $499,554. This represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,947 shares of company stock worth $117,951 in the last three months. 10.05% of the stock is currently owned by insiders.
RxSight Price Performance
NASDAQ:RXST opened at $6.54 on Friday. RxSight, Inc. has a 1 year low of $4.48 and a 1 year high of $13.22. The stock’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $6.34. The company has a market cap of $272.00 million, a P/E ratio of -5.79 and a beta of 1.16.
RxSight (NASDAQ:RXST – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The company had revenue of $33.74 million during the quarter, compared to analysts’ expectations of $32.55 million. On average, analysts expect that RxSight, Inc. will post -1.01 earnings per share for the current fiscal year.
About RxSight
RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.
Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.
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