IRIDEX (NASDAQ:IRIX) Major Shareholder Purchases $10,500.00 in Stock

IRIDEX Corporation (NASDAQ:IRIX) major shareholder Shih-Yao David Lin acquired 10,000 shares of IRIDEX stock in a transaction on Thursday, October 16th. The stock was purchased at an average cost of $1.05 per share, with a total value of $10,500.00. Following the purchase, the insider directly owned 735,561 shares of the company’s stock, valued at approximately $772,339.05. This trade represents a 1.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

IRIDEX Stock Down 0.9%

Shares of NASDAQ:IRIX opened at $0.89 on Friday. IRIDEX Corporation has a twelve month low of $0.61 and a twelve month high of $1.65. The stock’s 50 day moving average is $0.73 and its 200-day moving average is $0.95. The firm has a market capitalization of $15.64 million, a price-to-earnings ratio of -4.45 and a beta of 0.67.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $12.57 million during the quarter, compared to the consensus estimate of $13.59 million. Equities research analysts anticipate that IRIDEX Corporation will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRIX. Renaissance Technologies LLC grew its holdings in IRIDEX by 6.7% during the first quarter. Renaissance Technologies LLC now owns 396,627 shares of the medical equipment provider’s stock worth $401,000 after buying an additional 25,067 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in IRIDEX during the 2nd quarter worth $206,616. Perkins Capital Management Inc. boosted its holdings in IRIDEX by 33.9% during the 1st quarter. Perkins Capital Management Inc. now owns 55,300 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 14,000 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of IRIDEX by 66.5% in the 1st quarter. Thompson Davis & CO. Inc. now owns 47,444 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 18,944 shares in the last quarter. Finally, United Capital Financial Advisors LLC bought a new stake in shares of IRIDEX in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 20.10% of the company’s stock.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) develops and sells ophthalmic laser systems and related delivery devices used in the treatment of eye diseases. Its products are designed primarily for ophthalmologists treating glaucoma and retinal disorders, including diabetic retinopathy and other conditions affecting the retina.

The company’s portfolio includes laser systems such as the Cyclo G6 glaucoma laser platform and the IQ series of retinal photocoagulation lasers. IRIDEX also offers specialized probes and other delivery devices, including MicroPulse and transscleral cyclophotocoagulation technologies, which are intended to provide targeted treatment while limiting exposure to surrounding tissue.

Founded in 1989 and headquartered in Mountain View, California, IRIDEX serves eye-care professionals through a combination of direct sales and distributor relationships in the United States and international markets.