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

StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIXGet Rating) in a research note published on Saturday morning. The brokerage issued a buy rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus cut shares of IRIDEX from a buy rating to a hold rating and dropped their price objective for the stock from $5.00 to $3.00 in a research note on Friday, August 26th.

IRIDEX Price Performance

Shares of IRIX opened at $2.56 on Friday. The firm has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $3.38. IRIDEX has a 1-year low of $2.40 and a 1-year high of $9.46. The stock has a market cap of $40.93 million, a price-to-earnings ratio of -4.41 and a beta of 1.33.

Institutional Trading of IRIDEX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in IRIDEX by 31.1% in the 4th quarter. Acadian Asset Management LLC now owns 121,077 shares of the medical equipment provider’s stock worth $738,000 after acquiring an additional 28,711 shares during the period. Isthmus Partners LLC grew its stake in IRIDEX by 5.6% in the 1st quarter. Isthmus Partners LLC now owns 227,119 shares of the medical equipment provider’s stock worth $1,052,000 after acquiring an additional 12,018 shares during the period. Perkins Capital Management Inc. grew its stake in IRIDEX by 8.8% in the 1st quarter. Perkins Capital Management Inc. now owns 69,346 shares of the medical equipment provider’s stock worth $321,000 after acquiring an additional 5,600 shares during the period. Essex Investment Management Co. LLC grew its stake in IRIDEX by 8.2% in the 4th quarter. Essex Investment Management Co. LLC now owns 219,753 shares of the medical equipment provider’s stock worth $1,343,000 after acquiring an additional 16,572 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in IRIDEX by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after acquiring an additional 9,361 shares during the period. 22.10% of the stock is owned by hedge funds and other institutional investors.

IRIDEX Company Profile

(Get Rating)

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 photocoagulation 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 photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

Featured Articles

Receive News & Ratings for IRIDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IRIDEX and related companies with MarketBeat.com's FREE daily email newsletter.