Artisan Partners Limited Partnership Cuts Position in RxSight, Inc. $RXST

Artisan Partners Limited Partnership decreased its position in RxSight, Inc. (NASDAQ:RXST) by 22.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,753,683 shares of the company’s stock after selling 498,861 shares during the quarter. Artisan Partners Limited Partnership owned 4.26% of RxSight worth $15,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Capital Management LLC raised its stake in RxSight by 18.2% during the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock valued at $14,550,000 after purchasing an additional 171,952 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of RxSight in the 2nd quarter worth $1,431,000. Baillie Gifford & Co. increased its holdings in shares of RxSight by 46.4% in the 3rd quarter. Baillie Gifford & Co. now owns 686,316 shares of the company’s stock worth $6,170,000 after buying an additional 217,371 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of RxSight by 138.6% during the 2nd quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock valued at $4,871,000 after buying an additional 217,608 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of RxSight during the 2nd quarter valued at about $405,000. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Down 5.6%

RXST stock opened at $7.48 on Friday. RxSight, Inc. has a twelve month low of $6.32 and a twelve month high of $29.00. The firm has a market cap of $308.70 million, a price-to-earnings ratio of -7.87 and a beta of 1.14. The business’s fifty day simple moving average is $9.35 and its two-hundred day simple moving average is $9.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RXST shares. Piper Sandler reduced their price objective on RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley lifted their target price on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Wells Fargo & Company boosted their target price on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of RxSight in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, RxSight currently has an average rating of “Reduce” and a consensus price target of $9.89.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.