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

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note issued to investors on Friday. The firm issued a hold rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus reaffirmed a hold rating and issued a $2.00 target price on shares of IRIDEX in a research report on Wednesday, May 15th.

IRIDEX Price Performance

IRIX opened at $2.00 on Friday. IRIDEX has a 12 month low of $1.63 and a 12 month high of $3.65. The stock has a market cap of $32.51 million, a P/E ratio of -2.99 and a beta of 0.83. The stock’s 50 day moving average price is $1.99 and its 200 day moving average price is $2.41.

IRIDEX (NASDAQ:IRIX) last posted 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). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The business had revenue of $12.63 million during the quarter, compared to analyst estimates of $12.80 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Equities analysts anticipate that IRIDEX will post -0.52 EPS for the current year.

Institutional Trading of IRIDEX

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.28% of IRIDEX worth $135,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.