Bank of New York Mellon Corp Grows Stock Position in RxSight, Inc. (NASDAQ:RXST)

Bank of New York Mellon Corp increased its holdings in RxSight, Inc. (NASDAQ:RXST) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,882 shares of the company’s stock after buying an additional 9,385 shares during the period. Bank of New York Mellon Corp’s holdings in RxSight were worth $3,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after acquiring an additional 240 shares during the last quarter. Quarry LP increased its position in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares in the last quarter. MCIA Inc increased its position in RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after purchasing an additional 459 shares in the last quarter. Finally, KBC Group NV grew its position in RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after acquiring an additional 479 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Stock Down 3.4 %

NASDAQ:RXST opened at $24.85 on Thursday. RxSight, Inc. has a 52-week low of $24.64 and a 52-week high of $66.54. The firm has a market cap of $1.01 billion, a P/E ratio of -29.94 and a beta of 1.22. The business’s 50-day moving average price is $29.99 and its 200 day moving average price is $40.47.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of RxSight in a research report on Wednesday, February 26th. UBS Group started coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Insiders Place Their Bets

In related news, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director Jesse Anderson Corley acquired 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was bought at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.36% of the company’s stock.

RxSight Company 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.