IRIDEX (NASDAQ:IRIX) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a report published on Friday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

NASDAQ:IRIX opened at $2.86 on Friday. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The business has a fifty day moving average of $2.81 and a 200-day moving average of $2.71. The stock has a market cap of $46.48 million, a price-to-earnings ratio of -4.85 and a beta of 0.82.

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

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its position in IRIDEX Co. (NASDAQ:IRIX) by 92.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the period. IRIDEX comprises about 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned 3.93% of IRIDEX worth $1,618,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.10% of the company’s stock.

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.