IRIDEX (NASDAQ:IRIX) Announces Earnings Results

IRIDEX (NASDAQ:IRIX) issued its quarterly earnings data on Tuesday. The medical equipment provider reported ($0.12) earnings per share for the quarter, Zacks reports. The firm had revenue of $11.58 million for the quarter. IRIDEX had a negative return on equity of 163.45% and a negative net margin of 22.79%. During the same quarter in the prior year, the company earned ($0.11) EPS.

IRIDEX Stock Up 33.3 %

IRIX traded up $0.47 during midday trading on Wednesday, hitting $1.88. 295,618 shares of the company were exchanged, compared to its average volume of 31,064. The firm has a market capitalization of $31.04 million, a P/E ratio of -2.78 and a beta of 0.80. IRIDEX has a 1-year low of $1.27 and a 1-year high of $3.65. The firm’s 50 day moving average price is $1.69 and its 200-day moving average price is $2.03.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on IRIDEX in a research report on Saturday. They set a “hold” rating on the 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.