Second Sight Medical Products Inc. (NASDAQ:EYES) released its quarterly earnings results on Thursday. The medical device company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The business had revenue of $1.04 million for the quarter, compared to analyst estimates of $2.66 million. The company’s revenue for the quarter was down 63.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) EPS.
In other news, Chairman Robert J. Greenberg sold 8,571 shares of Second Sight Medical Products stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $4.10, for a total value of $35,141.10. Following the transaction, the chairman now owns 172,911 shares of the company’s stock, valued at approximately $708,935.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several research analysts have weighed in on EYES shares. Zacks Investment Research downgraded shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a research report on Monday, April 18th. Rodman & Renshaw reiterated a “buy” rating and issued a $16.00 price target on shares of Second Sight Medical Products in a research report on Tuesday.
Second Sight Medical Products, Inc is a medical device company that develops, manufactures and markets implantable visual prosthetics to restore some functional vision to blind patients. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP).
