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

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

IRIDEX Price Performance

Shares of IRIDEX stock opened at $2.87 on Thursday. The business has a fifty day simple moving average of $2.77 and a two-hundred day simple moving average of $2.72. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The company has a market capitalization of $46.65 million, a price-to-earnings ratio of -4.86 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The company had revenue of $12.46 million for the quarter, compared to analyst estimates of $14.90 million. As a group, equities analysts anticipate that IRIDEX will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IRIDEX

Large investors have recently made changes to their positions in the company. AMH Equity Ltd grew its holdings in IRIDEX by 92.6% in the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock valued at $1,618,000 after buying an additional 306,282 shares in the last quarter. Clayton Partners LLC acquired a new position in shares of IRIDEX in the first quarter valued at about $58,000. State Street Corp increased its position in IRIDEX by 9.7% during the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 3,956 shares during the period. Mackenzie Financial Corp bought a new stake in IRIDEX in the 1st quarter valued at about $56,000. Finally, Dimensional Fund Advisors LP raised its position in shares of IRIDEX by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after buying an additional 9,361 shares in the last quarter. 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.