Goldman Sachs Group Inc. Acquires 113,767 Shares of RxSight, Inc. $RXST

Goldman Sachs Group Inc. lifted its holdings in RxSight, Inc. (NASDAQ:RXST) by 57.9% in the first quarter, HoldingsChannel reports. The fund owned 310,411 shares of the company’s stock after buying an additional 113,767 shares during the period. Goldman Sachs Group Inc.’s holdings in RxSight were worth $7,838,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of RxSight in the fourth quarter worth $37,000. Russell Investments Group Ltd. increased its position in RxSight by 161.2% during the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock valued at $103,000 after purchasing an additional 2,525 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in RxSight during the 4th quarter valued at $204,000. Summit Global Investments increased its position in RxSight by 24.7% during the 1st quarter. Summit Global Investments now owns 8,393 shares of the company’s stock valued at $212,000 after purchasing an additional 1,664 shares during the period. Finally, AlphaQuest LLC increased its position in RxSight by 66.0% during the 1st quarter. AlphaQuest LLC now owns 8,443 shares of the company’s stock valued at $213,000 after purchasing an additional 3,357 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RXST has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Needham & Company LLC reduced their target price on shares of RxSight from $22.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. BTIG Research reaffirmed a “neutral” rating on shares of RxSight in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Finally, Oppenheimer cut shares of RxSight from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

RxSight Price Performance

RxSight stock opened at $9.31 on Friday. RxSight, Inc. has a one year low of $6.32 and a one year high of $57.53. The business’s fifty day moving average is $8.41 and its 200 day moving average is $14.40. The stock has a market capitalization of $380.97 million, a PE ratio of -11.64 and a beta of 1.18.

RxSight (NASDAQ:RXST) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The company had revenue of $33.64 million for the quarter, compared to the consensus estimate of $39.78 million. During the same quarter in the prior year, the company posted ($0.16) EPS. RxSight’s revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

RxSight 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.