Zacks Investment Research lowered shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) from a hold rating to a sell rating in a report published on Thursday.

According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “

Separately, HC Wainwright set a $5.00 target price on shares of Second Sight Medical Products and gave the stock a buy rating in a report on Tuesday, August 8th.

Shares of Second Sight Medical Products (NASDAQ EYES) traded down $0.01 during midday trading on Thursday, reaching $1.18. 177,000 shares of the company’s stock were exchanged, compared to its average volume of 500,816. Second Sight Medical Products has a one year low of $0.90 and a one year high of $2.83.

Second Sight Medical Products (NASDAQ:EYES) last announced its quarterly earnings results on Thursday, November 2nd. The medical device company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.54 million. Second Sight Medical Products had a negative net margin of 565.12% and a negative return on equity of 184.87%. equities research analysts predict that Second Sight Medical Products will post -0.55 earnings per share for the current year.

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An institutional investor recently raised its position in Second Sight Medical Products stock. Vanguard Group Inc. lifted its holdings in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843,462 shares of the medical device company’s stock after buying an additional 5,973 shares during the period. Vanguard Group Inc. owned about 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent reporting period. Institutional investors own 13.04% of the company’s stock.

Second Sight Medical Products Company Profile

Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.

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