IRIDEX (NASDAQ:IRIX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a report published on Thursday morning. The brokerage issued a hold rating on the medical equipment provider’s stock.

IRIDEX Stock Down 1.3 %

Shares of NASDAQ IRIX opened at $1.52 on Thursday. The business’s 50 day moving average is $1.81 and its two-hundred day moving average is $2.17. The company has a market cap of $25.10 million, a P/E ratio of -2.30 and a beta of 0.78. IRIDEX has a 12 month low of $1.45 and a 12 month high of $3.65.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $12.63 million during the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative return on equity of 134.37% and a negative net margin of 21.84%. During the same period in the prior year, the firm earned ($0.17) earnings per share.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. increased its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the period. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by hedge funds and other institutional investors.

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.