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

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIXGet Rating) in a report released on Monday. The brokerage issued a buy rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus lowered IRIDEX from a buy rating to a hold rating and cut their price target for the company from $5.00 to $3.00 in a report on Friday, August 26th.

IRIDEX Stock Up 4.3 %

Shares of IRIDEX stock opened at $2.16 on Monday. IRIDEX has a 12 month low of $1.96 and a 12 month high of $6.84. The business has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.65. The stock has a market cap of $34.54 million, a PE ratio of -3.93 and a beta of 1.23.

Hedge Funds Weigh In On IRIDEX

Institutional investors and hedge funds have recently made changes to their positions in the company. Paragon Associates & Paragon Associates II Joint Venture grew its position in IRIDEX by 42.1% during the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 799,385 shares of the medical equipment provider’s stock worth $1,927,000 after buying an additional 236,715 shares in the last quarter. Essex Investment Management Co. LLC raised its position in IRIDEX by 39.7% during the 1st quarter. Essex Investment Management Co. LLC now owns 306,993 shares of the medical equipment provider’s stock worth $1,421,000 after purchasing an additional 87,240 shares during the last quarter. Isthmus Partners LLC grew its holdings in IRIDEX by 26.0% during the 2nd quarter. Isthmus Partners LLC now owns 286,139 shares of the medical equipment provider’s stock worth $735,000 after acquiring an additional 59,020 shares during the period. Dimensional Fund Advisors LP grew its holdings in IRIDEX by 4.0% during the 1st 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 period. Finally, Perkins Capital Management Inc. grew its stake in shares of IRIDEX by 15.9% in the 2nd quarter. Perkins Capital Management Inc. now owns 80,346 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 11,000 shares during the period. Institutional investors and hedge funds own 22.10% of the company’s stock.

IRIDEX Company Profile

(Get Rating)

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 photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; 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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