StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

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

IRIDEX Trading Up 0.2 %

IRIX stock opened at $2.81 on Friday. IRIDEX has a 1-year low of $1.31 and a 1-year high of $3.65. The business’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $2.71. The firm has a market cap of $45.58 million, a PE ratio of -4.75 and a beta of 0.82.

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

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its holdings in IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the quarter. IRIDEX accounts for approximately 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned 3.93% of IRIDEX worth $1,618,000 at the end of the most recent quarter. 20.10% 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. 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.