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

Equities researchers at StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report issued to clients and investors on Wednesday. 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 price target on shares of IRIDEX in a research note on Wednesday, May 15th.

IRIDEX Stock Performance

IRIDEX stock opened at $2.14 on Wednesday. IRIDEX has a fifty-two week low of $1.31 and a fifty-two week high of $3.65. The firm has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.70. The company has a market capitalization of $34.78 million, a PE ratio of -3.19 and a beta of 0.80.

IRIDEX (NASDAQ:IRIX) last issued 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 business had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same period in the prior year, the business earned ($0.13) EPS. As a group, equities research analysts forecast that IRIDEX will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. lifted its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,300 shares of the medical equipment provider’s stock after acquiring an additional 5,200 shares during the quarter. 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.