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

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a report released on Saturday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Trading Up 2.2 %

Shares of NASDAQ IRIX opened at $1.39 on Friday. IRIDEX has a 12-month low of $1.27 and a 12-month high of $3.65. The company has a market cap of $22.95 million, a P/E ratio of -2.11 and a beta of 0.80. The stock has a fifty day moving average price of $1.71 and a 200 day moving average price of $2.06.

IRIDEX (NASDAQ:IRIX) last released its quarterly 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 for the quarter, compared to analyst estimates of $12.80 million. During the same period in the previous year, the business posted ($0.17) EPS.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. lifted its stake in IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 0.28% of IRIDEX worth $135,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.