Grandeur Peak Global Advisors LLC Takes $2.91 Million Position in RxSight, Inc. (NASDAQ:RXST)

Grandeur Peak Global Advisors LLC purchased a new stake in RxSight, Inc. (NASDAQ:RXST) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 84,560 shares of the company’s stock, valued at approximately $2,907,000. Grandeur Peak Global Advisors LLC owned 0.21% of RxSight as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RXST. F M Investments LLC raised its stake in shares of RxSight by 12.6% during the fourth quarter. F M Investments LLC now owns 5,901 shares of the company’s stock worth $203,000 after purchasing an additional 659 shares during the last quarter. Mountain Capital Investment Advisors Inc. lifted its stake in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after acquiring an additional 320 shares during the period. Renaissance Technologies LLC lifted its stake in shares of RxSight by 102.9% in the 4th quarter. Renaissance Technologies LLC now owns 361,500 shares of the company’s stock worth $12,428,000 after acquiring an additional 183,300 shares during the period. Legal & General Group Plc boosted its holdings in shares of RxSight by 1.2% in the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company’s stock valued at $1,459,000 after acquiring an additional 512 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after acquiring an additional 445 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of analyst reports. UBS Group lowered RxSight from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $16.00 in a report on Wednesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $17.00 price objective (down previously from $40.00) on shares of RxSight in a report on Friday, April 4th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of RxSight in a report on Thursday, April 3rd. Stifel Nicolaus cut their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Finally, Bank of America reissued an “underperform” rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RxSight currently has a consensus rating of “Hold” and a consensus price target of $39.78.

RxSight Price Performance

Shares of RxSight stock opened at $14.08 on Friday. The business has a 50 day moving average price of $25.63 and a 200 day moving average price of $36.22. The company has a market capitalization of $570.11 million, a P/E ratio of -16.96 and a beta of 1.26. RxSight, Inc. has a 1 year low of $13.50 and a 1 year high of $66.54.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS 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 for the quarter, compared to analyst estimates of $40.23 million. As a group, research analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity

In other RxSight news, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tamara Fountain sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, the director now directly owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.