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

Equities research analysts at StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a report released on Thursday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus reaffirmed a “hold” rating and set a $2.00 price target on shares of IRIDEX in a research note on Wednesday, May 15th.

IRIDEX Stock Up 3.0 %

Shares of IRIDEX stock opened at $2.07 on Thursday. The firm has a market cap of $33.64 million, a PE ratio of -3.09 and a beta of 0.83. IRIDEX has a fifty-two week low of $1.31 and a fifty-two week high of $3.65. The business’s fifty day moving average is $2.45 and its two-hundred day moving average is $2.67.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The business had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $12.00 million. IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. During the same quarter last year, the firm earned ($0.13) EPS. Equities research analysts anticipate that IRIDEX will post -0.49 EPS for the current year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. boosted its holdings in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned approximately 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by institutional investors and hedge funds.

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.