StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

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

IRIDEX Stock Performance

Shares of IRIDEX stock opened at $2.95 on Monday. The company has a market capitalization of $47.94 million, a P/E ratio of -6.15 and a beta of 0.81. The company has a fifty day moving average of $2.64 and a 200 day moving average of $2.60. IRIDEX has a fifty-two week low of $1.31 and a fifty-two week high of $3.48.

Institutional Trading of IRIDEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRIX. AMH Equity Ltd increased its position in shares of IRIDEX by 92.6% during the third quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock worth $1,618,000 after acquiring an additional 306,282 shares during the period. Clayton Partners LLC bought a new position in IRIDEX in the first quarter worth approximately $58,000. State Street Corp raised its stake in IRIDEX by 9.7% in the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 3,956 shares in the last quarter. Mackenzie Financial Corp purchased a new position in IRIDEX in the first quarter worth $56,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of IRIDEX by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after buying an additional 9,361 shares during the last quarter. 20.10% of the stock is owned by hedge funds and other institutional investors.

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.