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

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

IRIDEX Price Performance

NASDAQ IRIX opened at $1.52 on Thursday. IRIDEX has a 12 month low of $1.45 and a 12 month high of $3.65. The firm has a market capitalization of $24.70 million, a PE ratio of -2.30 and a beta of 0.78. The company’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $2.20.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The firm had revenue of $12.63 million for the quarter, compared to analyst estimates of $12.80 million. During the same quarter last year, the business posted ($0.17) earnings per share. Sell-side analysts anticipate that IRIDEX will post -0.52 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 raised its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to 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 buying an additional 60,400 shares during the quarter. IRIDEX accounts for 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th largest position. AMH Equity Ltd owned about 2.81% of IRIDEX worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 20.10% of the company’s stock.

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.