Brokerages expect that IRIDEX Co. (NASDAQ:IRIX) will post $11.13 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for IRIDEX’s earnings, with estimates ranging from $10.55 million to $11.70 million. IRIDEX posted sales of $11.32 million in the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The company is expected to issue its next earnings report on Thursday, November 7th.
According to Zacks, analysts expect that IRIDEX will report full-year sales of $42.66 million for the current financial year. For the next financial year, analysts expect that the company will post sales of $48.76 million, with estimates ranging from $47.31 million to $50.20 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for IRIDEX.
IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $10.43 million for the quarter, compared to analyst estimates of $10.94 million. IRIDEX had a negative return on equity of 39.42% and a negative net margin of 26.02%.
Shares of IRIX stock traded up $0.18 during mid-day trading on Friday, hitting $2.85. 900 shares of the stock were exchanged, compared to its average volume of 23,075. The firm’s fifty day moving average price is $3.92. The company has a market capitalization of $37.15 million, a PE ratio of -2.76 and a beta of 0.82. IRIDEX has a 12-month low of $2.49 and a 12-month high of $9.48. The company has a quick ratio of 2.73, a current ratio of 3.41 and a debt-to-equity ratio of 0.10.
A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in IRIDEX by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 207,148 shares of the medical equipment provider’s stock valued at $974,000 after purchasing an additional 7,404 shares during the period. Balter Liquid Alternatives LLC acquired a new stake in IRIDEX in the second quarter valued at about $901,000. Isthmus Partners LLC acquired a new stake in IRIDEX in the second quarter valued at about $677,000. BlackRock Inc. lifted its position in IRIDEX by 117.9% in the fourth quarter. BlackRock Inc. now owns 81,249 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 43,962 shares during the period. Finally, FineMark National Bank & Trust lifted its position in IRIDEX by 27.5% in the first quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after purchasing an additional 8,500 shares during the period. Hedge funds and other institutional investors own 43.39% of the company’s stock.
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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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