Analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX – Get Free Report) in a research report issued on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.
IRIDEX Stock Performance
Shares of IRIX stock opened at $2.01 on Friday. The stock has a 50 day moving average price of $1.98 and a 200 day moving average price of $2.39. The firm has a market capitalization of $33.19 million, a P/E ratio of -3.00 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 – Get Free Report) last issued its 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 for the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts forecast that IRIDEX will post -0.52 EPS for the current year.
Hedge Funds Weigh In On IRIDEX
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.
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