Hillsdale Investment Management Inc. Has $3.93 Million Holdings in RxSight, Inc. (NASDAQ:RXST)

Hillsdale Investment Management Inc. increased its stake in RxSight, Inc. (NASDAQ:RXST) by 50,653.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 76,130 shares of the company’s stock after purchasing an additional 75,980 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in RxSight were worth $3,927,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RXST. Vanguard Group Inc. raised its stake in RxSight by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after acquiring an additional 40,500 shares during the period. Parkman Healthcare Partners LLC raised its stake in RxSight by 34.5% in the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after acquiring an additional 131,701 shares during the period. Victory Capital Management Inc. raised its stake in RxSight by 108.6% in the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock valued at $10,349,000 after acquiring an additional 133,642 shares during the period. Great Lakes Advisors LLC bought a new stake in RxSight in the 4th quarter valued at $8,226,000. Finally, Charles Schwab Investment Management Inc. raised its stake in RxSight by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 190,337 shares of the company’s stock valued at $7,674,000 after acquiring an additional 8,003 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Oppenheimer increased their price objective on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. BTIG Research increased their price objective on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus lowered their price objective on RxSight from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Needham & Company LLC increased their price objective on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $65.14.

RxSight Stock Performance

Shares of NASDAQ RXST traded up $0.64 during mid-day trading on Monday, reaching $47.41. The company had a trading volume of 441,581 shares, compared to its average volume of 465,076. The business’s 50-day simple moving average is $56.81 and its 200 day simple moving average is $53.46. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -37.63 and a beta of 1.20. RxSight, Inc. has a one year low of $20.66 and a one year high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The business had revenue of $29.51 million during the quarter, compared to analyst estimates of $27.56 million. RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The business’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same period last year, the business earned ($0.42) earnings per share. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.75 EPS for the current year.

Insider Activity at RxSight

In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total transaction of $526,900.00. Following the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the sale, the chief executive officer now owns 764,610 shares in the company, valued at $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold 75,625 shares of company stock valued at $4,425,250 over the last ninety days. 9.36% of the stock is owned by corporate insiders.

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.