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

StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report report published on Friday morning. The firm issued a hold rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus reissued a hold rating and issued a $2.00 price target on shares of IRIDEX in a research report on Wednesday, May 15th.

IRIDEX Price Performance

NASDAQ IRIX opened at $2.00 on Friday. The company has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $2.41. The firm has a market capitalization of $32.51 million, a price-to-earnings ratio of -2.99 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) last posted 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 analysts’ expectations of $12.80 million. IRIDEX had a negative return on equity of 134.37% and a negative net margin of 21.84%. During the same period last year, the company earned ($0.17) earnings per share. On average, analysts predict that IRIDEX will post -0.52 EPS for the current year.

Institutional Trading of IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd boosted its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the quarter. IRIDEX makes up approximately 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th largest holding. AMH Equity Ltd owned 2.81% of IRIDEX worth $1,360,000 at the end of the most recent quarter. 20.10% of the stock is currently owned by hedge funds and other institutional investors.

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.