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

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

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

IRIDEX Price Performance

Shares of IRIDEX stock opened at $2.01 on Wednesday. The company’s fifty day simple moving average is $2.02 and its two-hundred day simple moving average is $2.47. IRIDEX has a 12-month low of $1.32 and a 12-month high of $3.65. The firm has a market cap of $32.67 million, a PE ratio of -3.00 and a beta of 0.83.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $12.63 million for the quarter, compared to analysts’ expectations of $12.80 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same quarter in the prior year, the company posted ($0.17) earnings per share. As a group, sell-side analysts expect that IRIDEX will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd boosted its position in IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the quarter. IRIDEX makes up 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest position. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.