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

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note released on Monday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Up 0.6 %

NASDAQ:IRIX opened at $1.72 on Monday. The company’s 50 day moving average is $1.93 and its two-hundred day moving average is $2.32. The company has a market cap of $27.96 million, a PE ratio of -2.55 and a beta of 0.78. IRIDEX has a twelve month low of $1.63 and a twelve month high of $3.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly 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 firm had revenue of $12.63 million for the quarter, compared to analysts’ expectations of $12.80 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, analysts expect that IRIDEX will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd raised its position in IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the period. IRIDEX accounts for approximately 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest holding. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 at the end of the most recent quarter. 20.10% of the stock is currently owned by hedge funds and other institutional investors.

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.