IRIDEX (NASDAQ:IRIX) Issues Earnings Results

IRIDEX (NASDAQ:IRIXGet Free Report) posted its earnings results on Tuesday. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09), Zacks reports. IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $12.00 million. During the same period in the previous year, the firm posted ($0.13) EPS.

IRIDEX Stock Performance

Shares of IRIX traded down $0.43 during mid-day trading on Wednesday, reaching $2.65. 121,625 shares of the company were exchanged, compared to its average volume of 34,475. The business has a 50 day simple moving average of $2.87 and a two-hundred day simple moving average of $2.70. IRIDEX has a 52 week low of $1.31 and a 52 week high of $3.65. The stock has a market capitalization of $43.06 million, a PE ratio of -5.22 and a beta of 0.82.

Analyst Ratings Changes

IRIX has been the subject of several research reports. initiated coverage on IRIDEX in a research report on Sunday. They issued a “hold” rating for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $2.00 price objective on shares of IRIDEX in a report on Wednesday.

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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.

See Also

Earnings History for IRIDEX (NASDAQ:IRIX)

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