T. Rowe Price Investment Management Inc. Sells 3,006 Shares of RxSight, Inc. (NASDAQ:RXST)

T. Rowe Price Investment Management Inc. cut its stake in RxSight, Inc. (NASDAQ:RXST) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,027 shares of the company’s stock after selling 3,006 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.18% of RxSight worth $2,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in RxSight in the 4th quarter valued at $441,000. MetLife Investment Management LLC grew its stake in shares of RxSight by 7.0% in the 4th quarter. MetLife Investment Management LLC now owns 21,954 shares of the company’s stock worth $755,000 after acquiring an additional 1,429 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of RxSight by 196.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company’s stock valued at $12,346,000 after purchasing an additional 237,877 shares during the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of RxSight during the fourth quarter valued at about $473,000. Finally, Altium Capital Management LLC boosted its holdings in RxSight by 154.5% during the fourth quarter. Altium Capital Management LLC now owns 285,000 shares of the company’s stock worth $9,798,000 after purchasing an additional 173,000 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of RxSight stock opened at $14.95 on Monday. The stock has a market capitalization of $607.27 million, a P/E ratio of -18.01 and a beta of 1.26. RxSight, Inc. has a 52-week low of $13.50 and a 52-week high of $66.54. The stock’s 50-day simple moving average is $22.14 and its 200 day simple moving average is $33.75.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RXST shares. Piper Sandler started coverage on RxSight in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $17.00 price target (down from $40.00) on shares of RxSight in a report on Friday, April 4th. UBS Group downgraded RxSight from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RxSight currently has an average rating of “Hold” and a consensus price target of $37.60.

Insider Transactions at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

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.