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

Analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note issued on Sunday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Down 4.2 %

NASDAQ IRIX opened at $1.81 on Friday. The firm has a market capitalization of $29.42 million, a P/E ratio of -2.70 and a beta of 0.78. The company has a 50-day moving average price of $1.96 and a 200-day moving average price of $2.36. IRIDEX has a 52 week low of $1.63 and a 52 week high of $3.65.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The company had revenue of $12.63 million for the quarter, compared to analysts’ expectations of $12.80 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities research analysts anticipate that IRIDEX will post -0.52 EPS for the current year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its stake in IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after buying an additional 60,400 shares during the quarter. IRIDEX makes up about 1.3% of AMH Equity Ltd’s investment portfolio, making the stock its 20th largest position. AMH Equity Ltd owned about 2.81% of IRIDEX worth $1,360,000 as of its most recent filing with the SEC. Institutional investors own 20.10% of the company’s stock.

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.