Tocqueville Asset Management L.P. Buys New Position in RxSight, Inc. $RXST

Tocqueville Asset Management L.P. bought a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 265,000 shares of the company’s stock, valued at approximately $1,277,000.

A number of other hedge funds have also recently bought and sold shares of RXST. Raymond James Financial Inc. acquired a new stake in RxSight in the 2nd quarter valued at about $28,000. Summit Securities Group LLC acquired a new position in shares of RxSight in the 1st quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in shares of RxSight by 110.5% in the 3rd 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 grew its stake in shares of RxSight by 440.7% in the 4th 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 raised its holdings in shares of RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after purchasing an additional 2,596 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Trading Down 1.1%

Shares of RXST opened at $6.09 on Friday. The business’s 50-day moving average price is $5.62 and its 200 day moving average price is $6.45. The stock has a market capitalization of $253.28 million, a P/E ratio of -5.39 and a beta of 1.13. RxSight, Inc. has a 1-year low of $4.48 and a 1-year high of $13.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) 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 analyst estimates of $32.55 million. On average, research analysts predict that RxSight, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

RXST has been the subject of several recent research reports. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. UBS Group lifted their price target 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. Stifel Nicolaus dropped their price target on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Wells Fargo & Company cut their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded RxSight from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, RxSight presently has an average rating of “Reduce” and a consensus target price 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.