Canada Pension Plan Investment Board Invests $874,000 in RxSight, Inc. $RXST

Canada Pension Plan Investment Board bought a new stake in RxSight, Inc. (NASDAQ:RXST) during the second quarter, Holdings Channel.com reports. The fund bought 181,300 shares of the company’s stock, valued at approximately $874,000.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in RxSight in the 2nd quarter worth approximately $28,000. Summit Securities Group LLC bought a new position in shares of RxSight in the 1st quarter worth $30,000. Larson Financial Group LLC raised its position in shares of RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after buying an additional 3,063 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after acquiring an additional 2,596 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Performance

RXST stock opened at $7.33 on Tuesday. The company has a market capitalization of $304.85 million, a PE ratio of -6.49 and a beta of 1.13. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22. The company’s 50 day moving average price is $5.88 and its two-hundred day moving average price is $6.37.

RxSight (NASDAQ:RXST) last announced 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 net margin of 36.80% and a negative return on equity of 17.35%. The company had revenue of $33.74 million during the quarter, compared to analysts’ expectations of $32.55 million. On average, research analysts predict that RxSight, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank of America cut their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen downgraded RxSight from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group lifted their price target on RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Wells Fargo & Company dropped their price target on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $8.37.

About RxSight

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.