Summit Global Investments Sells 1,708 Shares of RxSight, Inc. (NASDAQ:RXST)

Summit Global Investments cut its position in RxSight, Inc. (NASDAQ:RXST) by 20.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,729 shares of the company’s stock after selling 1,708 shares during the quarter. Summit Global Investments’ holdings in RxSight were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RXST. Point72 Asset Management L.P. grew its position in shares of RxSight by 610.2% in the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock valued at $22,094,000 after purchasing an additional 384,041 shares during the last quarter. RA Capital Management L.P. grew its holdings in RxSight by 6.0% in the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after buying an additional 222,000 shares during the last quarter. Thrivent Financial for Lutherans increased its position in RxSight by 53.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 352,626 shares of the company’s stock worth $12,124,000 after buying an additional 122,989 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after buying an additional 122,775 shares during the last quarter. Finally, Walleye Capital LLC boosted its position in shares of RxSight by 620.2% in the third quarter. Walleye Capital LLC now owns 129,687 shares of the company’s stock valued at $6,410,000 after acquiring an additional 111,681 shares during the period. Institutional investors own 78.78% of the company’s stock.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction that occurred on Wednesday, January 15th. The shares were bought at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the transaction, 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 currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RXST. Bank of America dropped their target price on shares of RxSight from $60.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of RxSight in a report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. UBS Group began coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

RxSight Trading Down 0.9 %

Shares of RXST opened at $24.70 on Wednesday. The stock has a 50 day simple moving average of $29.40 and a 200-day simple moving average of $39.55. The stock has a market cap of $1.00 billion, a PE ratio of -29.76 and a beta of 1.22. RxSight, Inc. has a 1 year low of $24.09 and a 1 year high of $66.54.

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