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

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

Separately, Stifel Nicolaus reaffirmed a hold rating and set a $2.00 target price on shares of IRIDEX in a report on Wednesday, May 15th.

IRIDEX Price Performance

IRIDEX stock opened at $2.07 on Thursday. The business has a 50 day simple moving average of $2.44 and a 200 day simple moving average of $2.67. The company has a market capitalization of $33.64 million, a PE ratio of -3.09 and a beta of 0.83. IRIDEX has a one year low of $1.31 and a one year high of $3.65.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.76 million during the quarter, compared to analyst estimates of $12.00 million. During the same quarter last year, the firm earned ($0.13) earnings per share. Equities analysts anticipate that IRIDEX will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. lifted its holdings in 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 institutional investor owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 as of its most recent SEC filing. 20.10% of the stock is owned by institutional investors.

About IRIDEX

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.