StockNews.com Initiates Coverage on IRIDEX (NASDAQ:IRIX)

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report released on Saturday morning. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Stock Down 1.4 %

Shares of NASDAQ IRIX opened at $1.41 on Friday. The company has a market cap of $23.28 million, a price-to-earnings ratio of -2.14 and a beta of 0.80. The firm’s fifty day moving average is $1.69 and its 200 day moving average is $2.03. IRIDEX has a 52 week low of $1.27 and a 52 week high of $3.65.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. grew its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing. 20.10% of the stock is owned by institutional investors and hedge funds.

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.