Grandeur Peak Global Advisors LLC Purchases 256,848 Shares of RxSight, Inc. $RXST

Grandeur Peak Global Advisors LLC raised its position in RxSight, Inc. (NASDAQ:RXST) by 55.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 722,440 shares of the company’s stock after purchasing an additional 256,848 shares during the period. RxSight accounts for 0.8% of Grandeur Peak Global Advisors LLC’s holdings, making the stock its 25th biggest position. Grandeur Peak Global Advisors LLC’s holdings in RxSight were worth $3,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of RxSight during the second quarter valued at approximately $28,000. Summit Securities Group LLC bought a new stake in RxSight during the first quarter worth $30,000. Larson Financial Group LLC boosted its position in RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after purchasing an additional 3,063 shares during the last quarter. Finally, CWM LLC grew its stake in RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RXST shares. Bank of America decreased their target price on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group lifted their price objective on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RxSight currently has an average rating of “Reduce” and a consensus target price of $8.37.

RxSight Price Performance

RxSight stock opened at $7.05 on Monday. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22. The business has a fifty day moving average price of $5.83 and a 200-day moving average price of $6.37. The firm has a market capitalization of $293.23 million, a P/E ratio of -6.24 and a beta of 1.13.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The company had revenue of $33.74 million for the quarter, compared to analyst estimates of $32.55 million. Sell-side analysts expect that RxSight, Inc. will post -1.01 earnings per share 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.