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

Stock analysts at StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report issued on Sunday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Price Performance

Shares of IRIDEX stock opened at $1.89 on Friday. The company’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $2.37. The firm has a market capitalization of $30.72 million, a PE ratio of -2.82 and a beta of 0.78. IRIDEX has a 52-week low of $1.63 and a 52-week 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 (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 analyst estimates 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 period last year, the company earned ($0.17) EPS. Analysts predict that IRIDEX will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. grew its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the period. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 as of its most recent filing with the SEC. Institutional investors own 20.10% of the company’s stock.

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.