IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

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

IRIDEX Stock Down 5.0 %

Shares of NASDAQ:IRIX opened at $1.52 on Friday. The company’s fifty day moving average is $1.78 and its two-hundred day moving average is $2.14. The company has a market cap of $24.70 million, a P/E ratio of -2.27 and a beta of 0.78. IRIDEX has a 12-month low of $1.45 and a 12-month high of $3.65.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $12.63 million for the quarter, compared to analysts’ expectations of $12.80 million. IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. During the same quarter in the prior year, the firm posted ($0.17) EPS.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the quarter. IRIDEX comprises approximately 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th largest holding. AMH Equity Ltd owned 2.81% of IRIDEX worth $1,360,000 as of its most recent SEC filing. 20.10% of the stock is currently owned by 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.