Investment analysts at StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX – Get Free Report) in a report issued on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.
Separately, Stifel Nicolaus reiterated a “hold” rating and set a $2.00 target price on shares of IRIDEX in a research report on Wednesday, May 15th.
Check Out Our Latest Research Report on IRIDEX
IRIDEX Stock Performance
IRIDEX (NASDAQ:IRIX – Get Free Report) last released its quarterly earnings results 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). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $12.00 million. During the same period last year, the company earned ($0.13) earnings per share. 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. AMH Equity Ltd grew its position in IRIDEX Co. (NASDAQ:IRIX – Free Report) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the period. IRIDEX comprises about 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th largest position. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by hedge funds and other institutional investors.
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.
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