Next Century Growth Investors LLC Cuts Stock Holdings in RxSight, Inc. (NASDAQ:RXST)

Next Century Growth Investors LLC cut its position in shares of RxSight, Inc. (NASDAQ:RXST) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,899 shares of the company’s stock after selling 405,554 shares during the period. Next Century Growth Investors LLC’s holdings in RxSight were worth $5,876,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in shares of RxSight during the 4th quarter worth about $34,000. Arcadia Investment Management Corp MI acquired a new position in RxSight in the 4th quarter worth about $46,000. Harbor Investment Advisory LLC purchased a new position in RxSight during the fourth quarter worth approximately $52,000. Global Retirement Partners LLC acquired a new stake in RxSight in the fourth quarter valued at approximately $69,000. Finally, KBC Group NV increased its position in shares of RxSight by 71.0% in the fourth quarter. KBC Group NV now owns 2,107 shares of the company’s stock valued at $72,000 after buying an additional 875 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Insider Transactions at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, with a total value of $44,992.74. Following the transaction, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group cut shares of RxSight from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $16.00 in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. Finally, Wells Fargo & Company reduced their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.78.

RxSight Stock Down 0.8 %

Shares of NASDAQ:RXST opened at $14.08 on Friday. RxSight, Inc. has a 52-week low of $13.50 and a 52-week high of $66.54. The stock has a market cap of $570.11 million, a P/E ratio of -16.96 and a beta of 1.26. The business has a fifty day moving average of $25.63 and a two-hundred day moving average of $36.22.

RxSight (NASDAQ:RXST) last announced 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 firm had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. On average, equities analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

RxSight Company Profile

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.