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

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

IRIDEX Stock Performance

Shares of IRIX opened at $1.54 on Thursday. The company has a 50 day moving average price of $1.82 and a 200-day moving average price of $2.20. IRIDEX has a fifty-two week low of $1.45 and a fifty-two week high of $3.65. The stock has a market capitalization of $25.03 million, a PE ratio of -2.30 and a beta of 0.78.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm 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 period in the previous year, the company earned ($0.17) EPS. Equities research analysts forecast that IRIDEX will post -0.52 EPS for the current year.

Institutional Trading of IRIDEX

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