Baillie Gifford & Co. Buys 291,733 Shares of RxSight, Inc. (NASDAQ:RXST)

Baillie Gifford & Co. grew its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 438.8% during the second quarter, HoldingsChannel reports. The firm owned 358,215 shares of the company’s stock after purchasing an additional 291,733 shares during the quarter. Baillie Gifford & Co.’s holdings in RxSight were worth $21,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC boosted its position in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares in the last quarter. Larson Financial Group LLC bought a new position in RxSight in the first quarter worth $51,000. RiverPark Advisors LLC raised its holdings in RxSight by 361.4% in the first quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock worth $159,000 after purchasing an additional 2,414 shares in the last quarter. Amalgamated Bank lifted its position in RxSight by 7.7% during the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after buying an additional 298 shares during the period. Finally, Clear Rock Advisors LLC bought a new stake in shares of RxSight during the 4th quarter valued at $172,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RXST has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC raised their target price on shares of RxSight from $54.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. BTIG Research boosted their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lowered their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $60.14.

Insider Buying and Selling

In other RxSight news, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the transaction, the director now owns 30,287 shares in the company, valued at approximately $1,756,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other RxSight news, Director Julie Andrews sold 15,625 shares of RxSight stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the sale, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ilya Goldshleger sold 9,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total value of $353,250.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at $1,658,155.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,625 shares of company stock worth $1,845,600. 9.36% of the stock is owned by corporate insiders.

RxSight Price Performance

NASDAQ RXST traded up $2.12 during mid-day trading on Friday, reaching $56.45. The stock had a trading volume of 376,056 shares, compared to its average volume of 491,459. The stock has a market cap of $2.09 billion, a PE ratio of -44.80 and a beta of 1.19. RxSight, Inc. has a 1 year low of $20.66 and a 1 year high of $66.54. The company has a fifty day moving average price of $51.51 and a 200 day moving average price of $53.83.

RxSight (NASDAQ:RXST) last posted its earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The company’s quarterly revenue was up 67.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) EPS. As a group, equities research analysts expect that RxSight, Inc. will post -0.77 earnings per share for the current year.

About RxSight

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.