StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX – Free Report) in a research report report published on Thursday morning. The firm issued a hold rating on the medical equipment provider’s stock.
Separately, Stifel Nicolaus reiterated a hold rating and set a $2.00 price objective on shares of IRIDEX in a research report on Wednesday, May 15th.
View Our Latest Report on IRIDEX
IRIDEX Stock Down 1.9 %
IRIDEX (NASDAQ:IRIX – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $11.76 million for the quarter, compared to the consensus estimate of $12.00 million. IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. During the same quarter last year, the company posted ($0.13) earnings per share. As a group, research analysts anticipate that IRIDEX will post -0.49 EPS for the current fiscal year.
Institutional Investors Weigh In On IRIDEX
A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. grew its holdings in IRIDEX Co. (NASDAQ:IRIX – Free Report) by 13.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 45,300 shares of the medical equipment provider’s stock after buying 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 quarter. 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.
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