IRIDEX (NASDAQ:IRIX) Receives New Coverage from Analysts at StockNews.com

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

IRIDEX Stock Down 3.0 %

Shares of IRIDEX stock opened at $2.87 on Friday. IRIDEX has a 12 month low of $1.31 and a 12 month high of $3.65. The business has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $2.72. The stock has a market cap of $46.64 million, a PE ratio of -4.86 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Tuesday, March 26th. The medical equipment provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The company had revenue of $12.46 million for the quarter, compared to analyst estimates of $14.90 million. Analysts expect that IRIDEX will post -0.37 EPS for the current fiscal year.

Institutional Trading of IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd grew its position in IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the period. IRIDEX makes up approximately 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th largest holding. AMH Equity Ltd owned 3.93% of IRIDEX worth $1,618,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by institutional investors and hedge funds.

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.