RxSight, Inc. (NASDAQ:RXST) Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,730 shares of the company’s stock after selling 12,211 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RxSight were worth $8,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. CWM LLC boosted its position in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after acquiring an additional 371 shares during the period. Quest Partners LLC acquired a new stake in shares of RxSight during the second quarter worth approximately $41,000. Larson Financial Group LLC purchased a new position in RxSight during the first quarter valued at approximately $51,000. Amalgamated Bank increased its stake in RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after buying an additional 207 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in RxSight in the 2nd quarter worth approximately $156,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $53.19, for a total value of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,247,064.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 43,110 shares of company stock worth $2,059,584 over the last ninety days. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

RXST has been the topic of several research analyst reports. Oppenheimer lowered their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. BTIG Research raised their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company dropped their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, RxSight currently has a consensus rating of “Buy” and a consensus target price of $60.14.

RxSight Stock Performance

Shares of RXST stock opened at $50.38 on Friday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -39.98 and a beta of 1.20. The stock’s 50 day simple moving average is $51.96 and its 200 day simple moving average is $53.70. RxSight, Inc. has a twelve month low of $20.66 and a twelve month high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The business had revenue of $34.89 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same period in the previous year, the company earned ($0.40) earnings per share. RxSight’s revenue for the quarter was up 67.6% on a year-over-year basis. On average, analysts forecast that RxSight, Inc. will post -0.81 EPS for the current fiscal year.

About RxSight

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.