Ieq Capital LLC Takes $702,000 Position in RxSight, Inc. $RXST

Ieq Capital LLC bought a new position in RxSight, Inc. (NASDAQ:RXST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 145,578 shares of the company’s stock, valued at approximately $702,000.

Several other institutional investors also recently bought and sold shares of RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after acquiring an additional 1,232 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of RxSight by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after purchasing an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of RxSight by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after purchasing an additional 8,424 shares in the last quarter. Creative Planning bought a new stake in shares of RxSight in the second quarter worth about $207,000. Finally, Legal & General Group Plc increased its holdings in shares of RxSight by 5.0% in the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after purchasing an additional 2,121 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of RxSight in a research note on Tuesday, July 7th. Stifel Nicolaus reduced their price objective on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Wells Fargo & Company decreased their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen upgraded RxSight from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, UBS Group raised their target price on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $8.37.

RxSight Trading Up 3.6%

Shares of NASDAQ:RXST opened at $6.61 on Friday. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22. The company has a 50-day moving average price of $5.79 and a 200 day moving average price of $6.38. The company has a market cap of $274.93 million, a price-to-earnings ratio of -5.85 and a beta of 1.13.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The company had revenue of $33.74 million for the quarter, compared to analysts’ expectations of $32.55 million. As a group, equities analysts forecast that RxSight, Inc. will post -1.01 EPS for the current year.

RxSight Profile

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.