RxSight, Inc. $RXST Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC cut its position in RxSight, Inc. (NASDAQ:RXST) by 31.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 771,180 shares of the company’s stock after selling 348,060 shares during the period. Brown Capital Management LLC’s holdings in RxSight were worth $6,933,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its position in RxSight by 27.4% in the second quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock valued at $29,283,000 after buying an additional 485,021 shares during the last quarter. Kent Lake PR LLC acquired a new stake in RxSight during the 2nd quarter valued at approximately $3,900,000. BNP Paribas Financial Markets boosted its holdings in shares of RxSight by 123.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 481,064 shares of the company’s stock valued at $6,254,000 after acquiring an additional 265,989 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of RxSight in the second quarter worth $3,397,000. Finally, Squarepoint Ops LLC increased its stake in shares of RxSight by 138.6% in the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock worth $4,871,000 after acquiring an additional 217,608 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Trading Up 1.6%

Shares of RXST stock opened at $8.83 on Tuesday. RxSight, Inc. has a 12-month low of $6.32 and a 12-month high of $34.71. The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $9.43. The company has a market capitalization of $363.09 million, a P/E ratio of -10.03 and a beta of 1.14.

RxSight (NASDAQ:RXST) last announced its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.15. RxSight had a negative return on equity of 12.82% and a negative net margin of 25.15%.The business had revenue of $30.34 million during the quarter, compared to the consensus estimate of $25.63 million. During the same period in the prior year, the company posted ($0.16) EPS. The business’s quarterly revenue was down 31.4% on a year-over-year basis. On average, research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of RxSight in a report on Wednesday, October 8th. Piper Sandler raised their target price on RxSight from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. William Blair initiated coverage on RxSight in a report on Friday. They issued a “market perform” rating for the company. Finally, UBS Group restated a “neutral” rating on shares of RxSight in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $9.78.

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.