Equities analysts forecast that IRIDEX Co. (NASDAQ:IRIX) will post earnings of ($0.22) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for IRIDEX’s earnings. IRIDEX posted earnings per share of ($0.28) during the same quarter last year, which indicates a positive year over year growth rate of 21.4%. The firm is expected to announce its next earnings results on Thursday, August 1st.
On average, analysts expect that IRIDEX will report full-year earnings of ($0.82) per share for the current year, with EPS estimates ranging from ($0.85) to ($0.79). For the next financial year, analysts anticipate that the firm will post earnings of ($0.47) per share, with EPS estimates ranging from ($0.50) to ($0.44). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow IRIDEX.
IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. IRIDEX had a negative return on equity of 42.85% and a negative net margin of 28.06%. The company had revenue of $10.60 million during the quarter, compared to analyst estimates of $10.46 million.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in IRIDEX by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 207,148 shares of the medical equipment provider’s stock valued at $974,000 after purchasing an additional 7,404 shares during the period. FineMark National Bank & Trust grew its holdings in IRIDEX by 27.5% during the first quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after purchasing an additional 8,500 shares during the period. Gabelli Funds LLC bought a new stake in IRIDEX during the first quarter valued at about $46,000. Stifel Financial Corp bought a new stake in IRIDEX during the fourth quarter valued at about $66,000. Finally, BlackRock Inc. grew its holdings in IRIDEX by 117.9% during the fourth quarter. BlackRock Inc. now owns 81,249 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 43,962 shares during the period. 43.47% of the stock is owned by institutional investors and hedge funds.
Shares of IRIX traded down $0.21 during trading hours on Monday, hitting $3.65. The stock had a trading volume of 82,010 shares, compared to its average volume of 29,584. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.63 and a quick ratio of 2.73. IRIDEX has a 12 month low of $3.50 and a 12 month high of $9.48. The company has a market cap of $49.72 million, a price-to-earnings ratio of -3.47 and a beta of 0.85. The firm has a fifty day moving average price of $4.59.
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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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