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

Analysts at StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a report released on Thursday. The firm set a “hold” rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus reissued a “hold” rating and issued a $2.00 price target on shares of IRIDEX in a report on Wednesday, May 15th.

IRIDEX Stock Performance

Shares of IRIX stock opened at $2.07 on Thursday. IRIDEX has a 52 week low of $1.31 and a 52 week high of $3.65. The stock has a market capitalization of $33.64 million, a PE ratio of -3.09 and a beta of 0.83. The stock’s fifty day moving average is $2.45 and its 200-day moving average is $2.67.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $12.00 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same period in the prior year, the company earned ($0.13) EPS. As a group, analysts forecast that IRIDEX will post -0.49 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. increased its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 at the end of the most recent quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.

IRIDEX Company Profile

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.