IRIDEX (NASDAQ:IRIX) Receives New Coverage from Analysts at StockNews.com

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

IRIDEX Price Performance

NASDAQ:IRIX opened at $2.87 on Friday. The business has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $2.72. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The company has a market capitalization of $46.64 million, a P/E ratio of -4.86 and a beta of 0.82.

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

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd raised its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the quarter. IRIDEX comprises approximately 2.1% of AMH Equity Ltd’s portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned approximately 3.93% of IRIDEX worth $1,618,000 as of its most recent SEC filing. 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.