Wasatch Advisors Inc. Buys Shares of 1,329,475 IRIDEX Co. (IRIX)

Wasatch Advisors Inc. bought a new position in IRIDEX Co. (NASDAQ:IRIX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,329,475 shares of the medical equipment provider’s stock, valued at approximately $8,442,000. Wasatch Advisors Inc. owned 11.40% of IRIDEX as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in IRIDEX by 29.2% in the second quarter. BlackRock Inc. now owns 35,807 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 8,083 shares during the period. Perkins Capital Management Inc. increased its stake in IRIDEX by 23.1% in the second quarter. Perkins Capital Management Inc. now owns 71,950 shares of the medical equipment provider’s stock worth $501,000 after purchasing an additional 13,500 shares during the period. Eidelman Virant Capital purchased a new stake in IRIDEX in the second quarter worth $760,000. Finally, Renaissance Technologies LLC increased its stake in IRIDEX by 9.9% in the second quarter. Renaissance Technologies LLC now owns 321,400 shares of the medical equipment provider’s stock worth $2,237,000 after purchasing an additional 28,900 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

In related news, Chairman William M. Moore acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average price of $6.56 per share, with a total value of $65,600.00. Following the completion of the transaction, the chairman now directly owns 201,800 shares in the company, valued at $1,323,808. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Associates & Paragon A. Paragon acquired 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were bought at an average cost of $6.00 per share, for a total transaction of $420,000.00. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently issued reports on IRIX shares. Zacks Investment Research raised IRIDEX from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Thursday, August 9th. Roth Capital reissued a “buy” rating and set a $10.00 price target on shares of IRIDEX in a research report on Friday, October 12th. Stifel Nicolaus started coverage on IRIDEX in a research report on Friday, October 26th. They set a “buy” rating and a $9.00 price target on the stock. Finally, ValuEngine raised IRIDEX from a “hold” rating to a “buy” rating in a research report on Tuesday.

IRIX opened at $5.00 on Thursday. IRIDEX Co. has a 12-month low of $4.23 and a 12-month high of $9.52. The firm has a market cap of $68.65 million, a PE ratio of -4.50 and a beta of 1.81.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. IRIDEX had a negative return on equity of 52.65% and a negative net margin of 36.52%. The business had revenue of $11.32 million for the quarter, compared to the consensus estimate of $9.64 million. On average, research analysts forecast that IRIDEX Co. will post -1.09 earnings per share for the current fiscal year.

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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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

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Institutional Ownership by Quarter for IRIDEX (NASDAQ:IRIX)

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