Brown Capital Management LLC Trims Stock Position in RxSight, Inc. $RXST

Brown Capital Management LLC decreased its position in RxSight, Inc. (NASDAQ:RXST) by 31.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 771,180 shares of the company’s stock after selling 348,060 shares during the period. Brown Capital Management LLC owned 1.88% of RxSight worth $6,933,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of RxSight in the 2nd quarter worth $28,000. Bessemer Group Inc. bought a new stake in shares of RxSight in the second quarter valued at about $33,000. CWM LLC lifted its stake in RxSight by 614.1% in the second quarter. CWM LLC now owns 4,520 shares of the company’s stock worth $59,000 after acquiring an additional 3,887 shares during the period. Tower Research Capital LLC TRC grew its holdings in RxSight by 156.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock worth $72,000 after acquiring an additional 3,398 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in RxSight by 112.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,684 shares of the company’s stock valued at $113,000 after purchasing an additional 4,593 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RXST has been the subject of several research reports. UBS Group reiterated a “neutral” rating on shares of RxSight in a research note on Monday, January 12th. Stifel Nicolaus set a $10.00 target price on RxSight in a research report on Thursday, November 6th. William Blair started coverage on RxSight in a research report on Friday. They issued a “market perform” rating for the company. Piper Sandler raised their price objective on RxSight from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, Wolfe Research upgraded shares of RxSight to an “outperform” rating in a report on Friday. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.78.

RxSight Stock Performance

RxSight stock opened at $8.83 on Tuesday. RxSight, Inc. has a one year low of $6.32 and a one year high of $34.71. The stock has a market cap of $363.09 million, a PE ratio of -10.03 and a beta of 1.14. The stock has a 50-day moving average of $10.83 and a two-hundred day moving average of $9.43.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.15. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, sell-side analysts predict that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

RxSight Company Profile

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.