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

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

IRIDEX Stock Down 3.0 %

NASDAQ IRIX opened at $2.87 on Friday. The company has a market capitalization of $46.65 million, a price-to-earnings ratio of -4.86 and a beta of 0.82. IRIDEX has a twelve month low of $1.31 and a twelve month high of $3.65. The stock has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $2.71.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The company had revenue of $12.46 million during the quarter, compared to analyst estimates of $14.90 million. IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. Research analysts expect that IRIDEX will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd raised its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the quarter. IRIDEX comprises 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 at the end of the most recent quarter. 20.10% of the stock is owned by hedge funds and other institutional investors.

About IRIDEX

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.