CIBC Private Wealth Group LLC Purchases Shares of 9,663 RxSight, Inc. (NASDAQ:RXST)

CIBC Private Wealth Group LLC acquired a new stake in RxSight, Inc. (NASDAQ:RXST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,663 shares of the company’s stock, valued at approximately $333,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP increased its stake in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of RxSight by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after buying an additional 399 shares in the last quarter. MCIA Inc grew its position in shares of RxSight by 5.7% in the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after buying an additional 459 shares during the last quarter. MetLife Investment Management LLC raised its stake in RxSight by 4.0% during the 3rd quarter. MetLife Investment Management LLC now owns 20,525 shares of the company’s stock worth $1,015,000 after acquiring an additional 790 shares in the last quarter. Finally, LPL Financial LLC raised its stake in RxSight by 3.6% during the 4th quarter. LPL Financial LLC now owns 25,007 shares of the company’s stock worth $860,000 after acquiring an additional 861 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RXST. Bank of America reaffirmed an “underperform” rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Thursday. Stifel Nicolaus cut their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.78.

RxSight Stock Performance

RXST stock opened at $16.26 on Friday. The stock has a market capitalization of $658.38 million, a PE ratio of -19.59 and a beta of 1.26. The company has a fifty day moving average of $28.12 and a 200-day moving average of $37.90. RxSight, Inc. has a one year low of $14.37 and a one year high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The business had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Equities analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shweta Maniar sold 3,519 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. This trade represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.

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.