Equities research analysts forecast that IRIDEX Co. (NASDAQ:IRIX) will post sales of $10.46 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for IRIDEX’s earnings, with the lowest sales estimate coming in at $10.20 million and the highest estimate coming in at $10.71 million. IRIDEX reported sales of $9.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The business is scheduled to issue its next earnings report on Thursday, May 2nd.

On average, analysts expect that IRIDEX will report full year sales of $44.87 million for the current year, with estimates ranging from $44.60 million to $45.13 million. For the next financial year, analysts anticipate that the firm will post sales of $50.47 million, with estimates ranging from $49.60 million to $51.33 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for IRIDEX.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Tuesday, March 5th. The medical equipment provider reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. IRIDEX had a negative net margin of 30.08% and a negative return on equity of 44.86%.

A number of equities analysts have commented on IRIX shares. ValuEngine downgraded shares of IRIDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded shares of IRIDEX from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Stifel Nicolaus reduced their target price on shares of IRIDEX from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. Finally, Roth Capital reaffirmed a “buy” rating on shares of IRIDEX in a research note on Tuesday, February 5th.

IRIX stock traded up $0.19 during trading on Wednesday, reaching $5.16. 2,570 shares of the stock were exchanged, compared to its average volume of 26,418. IRIDEX has a 1 year low of $3.72 and a 1 year high of $9.48. The company has a market capitalization of $62.98 million, a PE ratio of -4.91 and a beta of 1.03.

Several institutional investors have recently added to or reduced their stakes in IRIX. Stifel Financial Corp purchased a new stake in shares of IRIDEX in the 4th quarter valued at approximately $66,000. Quantum Capital Management raised its stake in shares of IRIDEX by 83.2% in the 4th quarter. Quantum Capital Management now owns 28,829 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 13,089 shares during the period. Neuberger Berman Group LLC raised its stake in shares of IRIDEX by 60.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after acquiring an additional 9,000 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of IRIDEX in the 4th quarter valued at approximately $306,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of IRIDEX in the 4th quarter valued at approximately $315,000. 45.26% of the stock is currently 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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

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