IRIDEX (NASDAQ:IRIX) Coverage Initiated by Analysts at StockNews.com

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

IRIDEX Price Performance

Shares of NASDAQ IRIX opened at $3.02 on Thursday. The firm has a fifty day moving average of $2.76 and a 200 day moving average of $2.72. IRIDEX has a one year low of $1.31 and a one year high of $3.65.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The company had revenue of $12.46 million for the quarter, compared to analysts’ expectations of $14.90 million. IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. As a group, equities research analysts forecast that IRIDEX will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in IRIDEX by 9.7% during the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 3,956 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in IRIDEX by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after acquiring an additional 9,361 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in IRIDEX in the first quarter valued at $56,000. Clayton Partners LLC acquired a new position in shares of IRIDEX in the 1st quarter valued at $58,000. Finally, AMH Equity Ltd grew its holdings in shares of IRIDEX by 92.6% during the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock worth $1,618,000 after purchasing an additional 306,282 shares during the period. 20.10% of the stock is owned by institutional investors and hedge funds.

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.