IRIDEX (NASDAQ:IRIX) Now Covered by Analysts at StockNews.com

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

IRIDEX Trading Up 5.2 %

NASDAQ:IRIX opened at $1.22 on Friday. IRIDEX has a 52 week low of $0.78 and a 52 week high of $3.25. The firm’s fifty day moving average is $1.10 and its 200-day moving average is $1.46. The firm has a market cap of $20.48 million, a P/E ratio of -1.82 and a beta of 0.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.85 and a current ratio of 1.54.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%. The firm had revenue of $12.70 million during the quarter, compared to the consensus estimate of $12.80 million.

Insider Buying and Selling at IRIDEX

In related news, Director Beverly A. Huss acquired 25,900 shares of IRIDEX stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average price of $1.22 per share, with a total value of $31,598.00. Following the transaction, the director now directly owns 92,639 shares in the company, valued at $113,019.58. This represents a 38.81 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 27,875 shares of company stock valued at $33,829. 7.30% of the stock is currently owned by company insiders.

About IRIDEX

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.