Principal Financial Group Inc. Increases Stock Position in RxSight, Inc. (NASDAQ:RXST)

Principal Financial Group Inc. boosted its stake in RxSight, Inc. (NASDAQ:RXST) by 298.5% during the first quarter, HoldingsChannel reports. The firm owned 34,928 shares of the company’s stock after buying an additional 26,164 shares during the period. Principal Financial Group Inc.’s holdings in RxSight were worth $1,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. RiverPark Advisors LLC raised its stake in RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of RxSight by 7.7% in the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after acquiring an additional 298 shares during the last quarter. Clear Rock Advisors LLC bought a new stake in shares of RxSight in the 4th quarter worth approximately $172,000. Clarus Group Inc. bought a new stake in shares of RxSight in the 4th quarter worth approximately $202,000. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of RxSight in the 4th quarter worth approximately $212,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the transaction, the chief financial officer now owns 13,938 shares in the company, valued at approximately $734,393.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julie Andrews sold 15,625 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the sale, the director now directly owns 30,287 shares of the company’s stock, valued at $1,756,646. The disclosure for this sale can be found here. Insiders have sold a total of 75,625 shares of company stock worth $4,425,250 in the last quarter. Corporate insiders own 9.36% of the company’s stock.

RxSight Trading Down 0.5 %

NASDAQ:RXST traded down $0.30 during midday trading on Friday, reaching $56.69. 58,151 shares of the stock traded hands, compared to its average volume of 436,581. The company has a fifty day moving average of $58.74 and a 200 day moving average of $52.29. RxSight, Inc. has a 12 month low of $20.66 and a 12 month high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). The firm had revenue of $29.51 million during the quarter, compared to the consensus estimate of $27.56 million. RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business’s revenue for the quarter was up 68.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.42) EPS. On average, research analysts predict that RxSight, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price objective on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Stifel Nicolaus boosted their price objective on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, May 6th. BTIG Research upped their price target on shares of RxSight from $61.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Needham & Company LLC upped their price target on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.63.

RxSight 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.