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

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

IRIDEX Stock Performance

NASDAQ:IRIX opened at $1.52 on Thursday. The stock has a market cap of $24.70 million, a price-to-earnings ratio of -2.30 and a beta of 0.78. IRIDEX has a one year low of $1.45 and a one year high of $3.65. The business’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.20.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business 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 quarter last year, the company posted ($0.17) earnings per share. On average, equities research analysts predict that IRIDEX will post -0.52 EPS for the current year.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. grew its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 as of its most recent SEC filing. 20.10% of the stock is owned by institutional investors.

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.