Readystate Asset Management LP Buys New Holdings in RxSight, Inc. (NASDAQ:RXST)

Readystate Asset Management LP bought a new stake in RxSight, Inc. (NASDAQ:RXST) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,060 shares of the company’s stock, valued at approximately $728,000. Readystate Asset Management LP owned approximately 0.05% of RxSight as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its position in shares of RxSight by 17.3% during the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after acquiring an additional 359,295 shares during the last quarter. BlackRock Inc. grew its position in shares of RxSight by 30.6% during the second quarter. BlackRock Inc. now owns 1,629,928 shares of the company’s stock worth $46,942,000 after acquiring an additional 382,119 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of RxSight by 13.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock worth $45,414,000 after acquiring an additional 197,099 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RxSight by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,484,010 shares of the company’s stock worth $59,835,000 after acquiring an additional 50,057 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of RxSight by 61.2% during the fourth quarter. Nuveen Asset Management LLC now owns 695,705 shares of the company’s stock worth $28,051,000 after acquiring an additional 264,228 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Insider Buying and Selling at RxSight

In other news, CFO Shelley B. Thunen sold 20,000 shares of RxSight stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the transaction, the chief financial officer now owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Shelley B. Thunen sold 20,000 shares of RxSight stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the transaction, the chief financial officer now owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.37, for a total transaction of $563,700.00. Following the completion of the transaction, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at approximately $771,761.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,641 shares of company stock valued at $6,988,022. 21.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of RxSight in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Oppenheimer lifted their price objective on shares of RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $49.63.

RxSight Stock Performance

RxSight stock traded down $1.08 during midday trading on Thursday, reaching $51.75. The company’s stock had a trading volume of 397,195 shares, compared to its average volume of 437,776. RxSight, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $58.21. The stock’s 50 day simple moving average is $52.50 and its 200 day simple moving average is $40.62. The firm has a market capitalization of $1.91 billion, a PE ratio of -36.19 and a beta of 1.22.

RxSight (NASDAQ:RXST) last released its earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company had revenue of $28.58 million during the quarter, compared to the consensus estimate of $28.60 million. Equities analysts predict that RxSight, Inc. will post -0.94 earnings per share for the current 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.