IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note issued on Wednesday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Up 0.6 %

IRIDEX stock opened at $1.59 on Wednesday. IRIDEX has a 52-week low of $1.45 and a 52-week high of $3.65. The firm has a market cap of $25.84 million, a PE ratio of -2.37 and a beta of 0.78. The company’s 50 day moving average is $1.86 and its two-hundred day moving average is $2.27.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The company had revenue of $12.63 million during the quarter, compared to analyst estimates of $12.80 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. On average, equities research analysts anticipate that IRIDEX will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of IRIDEX

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. grew its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned approximately 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.10% of the company’s stock.

About IRIDEX

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.