IRIDEX (NASDAQ:IRIX) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note issued to investors on Sunday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Trading Down 4.2 %

IRIX opened at $1.81 on Friday. The stock has a 50-day moving average of $1.96 and a 200 day moving average of $2.36. IRIDEX has a 12 month low of $1.63 and a 12 month high of $3.65. The firm has a market cap of $29.42 million, a P/E ratio of -2.70 and a beta of 0.78.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $12.63 million for the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. During the same period in the prior year, the firm posted ($0.17) EPS. On average, research analysts forecast that IRIDEX will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. lifted its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the period. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 at the end of the most recent quarter. 20.10% of the stock is owned by 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.