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

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

IRIDEX Stock Performance

IRIDEX stock opened at $1.89 on Friday. The business’s fifty day moving average is $1.97 and its two-hundred day moving average is $2.37. The firm has a market cap of $30.72 million, a P/E ratio of -2.82 and a beta of 0.78. IRIDEX has a 52 week low of $1.63 and a 52 week high of $3.65.

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

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. increased its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% in 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 purchasing an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned approximately 0.28% of IRIDEX worth $135,000 as of its most recent SEC filing. 20.10% of the stock is currently owned by hedge funds and other 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.