IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

Shares of IRIX stock opened at $1.79 on Monday. IRIDEX has a fifty-two week low of $1.63 and a fifty-two week high of $3.65. The firm has a market capitalization of $29.09 million, a price-to-earnings ratio of -2.67 and a beta of 0.78. The stock’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $2.34.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $12.63 million during the quarter, compared to analyst estimates 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 previous year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that IRIDEX will post -0.52 earnings per share for the current year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. increased its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after acquiring an additional 5,200 shares during the period. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 at the end of the most recent quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.

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.