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

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

IRIDEX Stock Performance

NASDAQ:IRIX opened at $1.90 on Friday. The stock has a fifty day moving average price of $1.98 and a two-hundred day moving average price of $2.38. The stock has a market capitalization of $30.88 million, a price-to-earnings ratio of -2.84 and a beta of 0.78. IRIDEX has a 1 year low of $1.63 and a 1 year high of $3.65.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd grew its position in IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 accounts for approximately 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th biggest holding. AMH Equity Ltd owned 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.