IRIDEX (NASDAQ:IRIX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note published on Friday. The firm issued a hold rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus restated a hold rating and set a $2.00 price objective on shares of IRIDEX in a research note on Wednesday, May 15th.

IRIDEX Stock Down 0.5 %

Shares of NASDAQ IRIX opened at $2.00 on Friday. The stock’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $2.41. IRIDEX has a 52-week low of $1.63 and a 52-week high of $3.65. The stock has a market capitalization of $32.51 million, a P/E ratio of -2.99 and a beta of 0.83.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data 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 in the previous year, the company earned ($0.17) EPS. On average, analysts anticipate that IRIDEX will post -0.52 EPS for the current year.

Institutional Trading of IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd lifted its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the quarter. IRIDEX comprises 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 as of its most recent filing with the Securities and Exchange Commission. 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.