BlackRock Fund Advisors recently announced the acquisition of new stake in RxSight Inc. (NASDAQ:RXST). The institutional investor has increased its shareholding in the Healthcare company by 4.13% to 0.89 million shares with purchase of 35134.0 shares. This fresh investment now brings its stake to 3.20% valued currently at $11.22 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.13 million to 0.77 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.31% or 3765.0 shares – to 0.29 million shares.
With over 0.12 million RxSight Inc. (RXST) shares trading Monday and a closing price of $13.02 on the day, the dollar volume was approximately $1.62 million. The shares have shown a negative half year performance of -10.82% and its price on 01/23/23 lost nearly -0.23%. Currently, there are 27.67M common shares owned by the public and among those 21.74M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for RXST have a consensus price objective of $19.40. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $14.00. The average price target is 32.89% above its recent price level and an upside to the estimated low will see the stock gain 7.0% over that period. But an upside of 45.75% will see the stock hit the forecast high price target while median target price for the stock is $22.00.
Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 508,963 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 1,383,388 shares.
The top 3 mutual fund holders in RxSight Inc. are Worldwide Healthcare Trust Plc, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Worldwide Healthcare Trust Plc owns 0.92 million shares of the company’s stock, all valued at over $11.7 million. The company sold -0.13 million shares recently to bring their total holdings to about 3.33% of the shares outstanding. iShares Russell 2000 ETF sold 4453.0 shares to bring its total holdings to over 0.43 million shares at a value of $5.43 million. iShares Russell 2000 ETF now owns shares totaling to 1.55% of the shares outstanding.
Shares of RxSight Inc. (NASDAQ: RXST) opened at $12.96, down -$0.09 from a prior closing price of $13.05. However, the script later moved the day high at 13.25, down -0.23%. The company’s stock has a 5-day price change of -0.46% and 17.09% over the past three months. RXST shares are trading 2.76% year to date (YTD), with the 12-month market performance up to 9.69% higher. It has a 12-month low price of $9.20 and touched a high of $16.99 over the same period. RXST has an average intraday trading volume of 68.95K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.53%, 1.61%, and -0.10% respectively.
Institutional ownership of RxSight Inc. (NASDAQ: RXST) shares accounts for 49.30% of the company’s 27.67M shares outstanding. Mutual fund holders own 16.71%, while other institutional holders and individual stakeholders account for 17.77% and 10.83% respectively.
It has a market capitalization of $355.06M. The earnings-per-share (ttm) stands at -$2.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.63% over the week and 6.68% over the month.
Analysts forecast that RxSight Inc. (RXST) will achieve an EPS of -$0.71 for the current quarter, -$0.75 for the next quarter and -$2.36 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.75 while analysts give the company a high EPS estimate of -$0.68. Comparatively, EPS for the current quarter was -$0.68 a year ago. Earnings per share for the fiscal year are expected to increase by 27.70%, and 12.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate RxSight Inc. (RXST) as a “Strong Buy” at a consensus score of 1.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RXST, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on December 12, 2022, with the firm’s price target at $20-$14. Needham coverage for the RxSight Inc. (RXST) stock in a research note released on April 08, 2022 offered a Buy rating with a price target of $18.
