Federated Hermes Inc. Sells 47,669 Shares of RxSight, Inc. (NASDAQ:RXST)

Federated Hermes Inc. decreased its position in shares of RxSight, Inc. (NASDAQ:RXST) by 15.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,922 shares of the company’s stock after selling 47,669 shares during the period. Federated Hermes Inc. owned 0.74% of RxSight worth $10,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarus Group Inc. bought a new stake in RxSight during the 4th quarter worth approximately $202,000. Arizona State Retirement System bought a new stake in RxSight during the 4th quarter worth approximately $261,000. Legato Capital Management LLC raised its stake in RxSight by 57.2% during the 4th quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock worth $819,000 after acquiring an additional 7,395 shares during the period. RiverPark Advisors LLC raised its stake in RxSight by 70.0% during the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after acquiring an additional 275 shares during the period. Finally, Grey Street Capital LLC bought a new stake in RxSight during the 4th quarter worth approximately $765,000. Institutional investors own 78.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RXST. Oppenheimer raised their target price on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on shares of RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $49.63.

Insider Buying and Selling

In other RxSight news, CFO Shelley B. Thunen sold 31,772 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.11, for a total value of $1,496,778.92. Following the completion of the sale, the chief financial officer now owns 6,791 shares of the company’s stock, valued at $319,924.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Shelley B. Thunen sold 31,772 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $47.11, for a total transaction of $1,496,778.92. Following the transaction, the chief financial officer now owns 6,791 shares of the company’s stock, valued at $319,924.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Weinberg sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the transaction, the insider now directly owns 299,978 shares in the company, valued at approximately $14,998,900. The disclosure for this sale can be found here. Insiders have sold 126,641 shares of company stock valued at $6,268,022 in the last ninety days. 21.13% of the stock is owned by company insiders.

RxSight Stock Up 4.9 %

Shares of RXST opened at $54.92 on Wednesday. The company has a 50 day simple moving average of $52.65 and a two-hundred day simple moving average of $41.38. RxSight, Inc. has a 1 year low of $17.09 and a 1 year high of $58.21.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $28.58 million during the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. On average, analysts forecast that RxSight, Inc. will post -0.94 EPS for the current year.

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.