Osterweis Capital Management Inc. Raises Stake in RxSight, Inc. (NASDAQ:RXST)

Osterweis Capital Management Inc. grew its holdings in RxSight, Inc. (NASDAQ:RXST) by 48.3% during the 4th quarter, Holdings Channel reports. The fund owned 288,072 shares of the company’s stock after purchasing an additional 93,827 shares during the period. Osterweis Capital Management Inc.’s holdings in RxSight were worth $9,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. DF Dent & Co. Inc. acquired a new position in RxSight during the fourth quarter worth $14,524,000. Artisan Partners Limited Partnership lifted its holdings in RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after purchasing an additional 381,389 shares in the last quarter. Renaissance Technologies LLC boosted its stake in RxSight by 102.9% during the 4th quarter. Renaissance Technologies LLC now owns 361,500 shares of the company’s stock worth $12,428,000 after purchasing an additional 183,300 shares during the last quarter. Vitruvian Partners LLP purchased a new position in shares of RxSight in the fourth quarter worth about $4,961,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of RxSight by 53.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 352,626 shares of the company’s stock worth $12,124,000 after buying an additional 122,989 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RXST. Wells Fargo & Company lowered their price objective on RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th. Piper Sandler began coverage on shares of RxSight in a research note on Tuesday. They set a “neutral” rating and a $18.00 target price on the stock. UBS Group cut shares of RxSight from a “buy” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Finally, Bank of America reaffirmed an “underperform” rating and set a $22.00 price target (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.60.

Insider Transactions at RxSight

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

RxSight Trading Down 0.7 %

Shares of RXST opened at $14.52 on Thursday. The firm’s fifty day simple moving average is $24.48 and its 200-day simple moving average is $35.60. The firm has a market capitalization of $587.93 million, a price-to-earnings ratio of -17.49 and a beta of 1.26. RxSight, Inc. has a twelve month low of $13.50 and a twelve month high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS 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%. On average, analysts predict that RxSight, Inc. will post -0.7 earnings per share 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.