IRIDEX (NASDAQ:IRIX) Coverage Initiated at StockNews.com

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

IRIDEX Trading Up 0.2 %

Shares of IRIX opened at $2.81 on Friday. The firm has a market capitalization of $45.58 million, a price-to-earnings ratio of -4.75 and a beta of 0.82. The firm’s fifty day simple moving average is $2.83 and its 200-day simple moving average is $2.71. IRIDEX has a twelve month low of $1.31 and a twelve month high of $3.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results 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 business 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%. On average, analysts predict that IRIDEX will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd grew its stake in IRIDEX Co. (NASDAQ:IRIX) by 92.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637,103 shares of the medical equipment provider’s stock after buying an additional 306,282 shares during the period. IRIDEX accounts for 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th largest holding. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 20.10% of the company’s stock.

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.