California State Teachers Retirement System increased its holdings in RxSight, Inc. (NASDAQ:RXST – Free Report) by 6.8% during the first quarter, according to the company’s most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,052 shares of the company’s stock after acquiring an additional 1,733 shares during the quarter. California State Teachers Retirement System owned about 0.07% of RxSight valued at $1,395,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their holdings in RXST. GSA Capital Partners LLP acquired a new position in shares of RxSight during the first quarter valued at about $1,929,000. Capstone Investment Advisors LLC acquired a new position in shares of RxSight during the fourth quarter valued at about $642,000. Principal Financial Group Inc. increased its position in shares of RxSight by 298.5% during the first quarter. Principal Financial Group Inc. now owns 34,928 shares of the company’s stock valued at $1,802,000 after purchasing an additional 26,164 shares during the same period. Baillie Gifford & Co. acquired a new position in shares of RxSight during the first quarter valued at about $3,429,000. Finally, M&G Plc acquired a new position in shares of RxSight during the first quarter valued at approximately $7,354,000. Institutional investors and hedge funds own 78.78% of the company’s shares.
RxSight Stock Performance
RxSight stock opened at $50.73 on Monday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -40.26, and a beta of 1.19. The company has a 50-day moving average price of $52.53 and a 200-day moving average price of $53.49. RxSight, Inc. has a 52-week low of $20.66 and a 52-week high of $66.54.
RxSight (NASDAQ:RXST – Get Free Report) last released its quarterly earnings results on Monday, August 5. The company reported earnings per share of -$0.16 for the quarter, beating analysts’ consensus estimates of -$0.22 by $0.06. The company had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The company’s quarterly revenue grew 67.6% year-over-year. During the same period last year, the company generated earnings per share of -$0.40. As a group, equities analysts forecast that RxSight, Inc. will post earnings per share of -$0.75 for the current fiscal year.
Insider buying and selling
In related news, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the transaction, the director now directly owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the transaction, the director now directly owns 30,287 shares of the company’s stock, valued at $1,756,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The disclosure of this sale can be found here. Over the last ninety days, insiders have sold 34,625 shares of the company’s stock, valued at $1,845,600. 9.36% of the shares are owned by insiders.
Wall Street analysts comment
Several brokerage firms have recently commented on RXST. Oppenheimer decreased their price target on shares of RxSight from $72.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Needham & Company LLC decreased their price target on shares of RxSight from $75.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. BTIG Research increased their price target on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company lowered their price target on shares of RxSight from $68.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their price target on shares of RxSight from $70.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a “buy” rating. Based on data from MarketBeat.com, RxSight has a consensus rating of “Buy” and a consensus price target of $58.43.
Get our latest stock analysis on RxSight
About RxSight
(Free report)
RxSight, Inc., a commercial-stage medical device company, is engaged in the research and development, manufacture and sale of light-adjustable intraocular lenses (LALs) used in cataract surgery in the United States and internationally. The company offers the RxSight System, which enables physicians to customize and improve patients’ visual acuity following cataract surgery.
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