RxSight Inc (NASDAQ: RXST) stock fell -2.13% on Friday to $27.53 against a previous-day closing price of $28.13. With 0.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $28.69 whereas the lowest price it dropped to was $27.17. The 52-week range on RXST shows that it touched its highest point at $33.77 and its lowest point at $10.29 during that stretch. It currently has a 1-year price target of $32.17. Beta for the stock currently stands at 0.96.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RXST was up-trending over the past week, with a rise of 8.90%, but this was up by 11.14% over a month. Three-month performance dropped to -6.36% while six-month performance rose 7.71%. The stock gained 97.35% in the past year, while it has gained 117.28% so far this year. A look at the trailing 12-month EPS for RXST yields -1.72 with Next year EPS estimates of -1.31. For the next quarter, that number is -0.40. This implies an EPS growth rate of 35.18% for this year and 15.85% for next year.
Float and Shares Shorts:
At present, 35.86 million RXST shares are outstanding with a float of 28.70 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.45 million, which was 4.07% higher than short shares on Sep 28, 2023. In addition to Dr. Ronald M. Kurtz M.D. as the firm’s President, CEO & Director, Ms. Shelley B. Thunen serves as its CFO & Assistant Secretary.
Institutional Ownership:
Through their ownership of 63.02% of RXST’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.32% of RXST, in contrast to 28.30% held by mutual funds. Shares owned by individuals account for 10.41%. As the largest shareholder in RXST with 8.57% of the stake, RA Capital Management LP holds 3,052,796 shares worth 3,052,796. A second-largest stockholder of RXST, Artisan Partners LP, holds 2,437,765 shares, controlling over 6.84% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in RXST, holding 1,645,396 shares or 4.62% stake. With a 4.21% stake in RXST, the Artisan International Small-Mid F is the largest stakeholder. A total of 1,498,705 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.24% of RXST stock, is the second-largest Mutual Fund holder. It holds 797,938 shares valued at 17.67 million. Lord Abbett Developing Growth Fun holds 2.14% of the stake in RXST, owning 761,286 shares worth 16.85 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RXST since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RXST analysts setting a high price target of $36.00 and a low target of $30.00, the average target price over the next 12 months is $32.17. Based on these targets, RXST could surge 30.77% to reach the target high and rise by 8.97% to reach the target low. Reaching the average price target will result in a growth of 16.85% from current levels.
Summary of Insider Activity:
Insiders traded RXST stock several times over the past three months with 2 Buys and 6 Sells. In these transactions, 1,386 shares were bought while 320,750 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 369,870 while 2,267,564 shares were sold.
