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

Investment analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report issued on Monday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

NASDAQ:IRIX opened at $1.16 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. IRIDEX has a 1-year low of $0.78 and a 1-year high of $3.25. The business has a 50 day moving average of $1.05 and a 200 day moving average of $1.43. The company has a market capitalization of $19.39 million, a price-to-earnings ratio of -1.72 and a beta of 0.69.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%. The firm had revenue of $12.70 million during the quarter, compared to the consensus estimate of $12.80 million.

Insider Buying and Selling at IRIDEX

In other IRIDEX news, Director Beverly A. Huss bought 25,900 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was bought at an average price of $1.22 per share, for a total transaction of $31,598.00. Following the completion of the acquisition, the director now directly owns 92,639 shares in the company, valued at $113,019.58. The trade was a 38.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders purchased 38,539 shares of company stock worth $47,491. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 518,541 shares of the medical equipment provider’s stock after acquiring an additional 17,420 shares during the quarter. AMH Equity Ltd owned approximately 3.09% of IRIDEX worth $513,000 as of its most recent filing with the Securities & Exchange Commission. 20.10% of the stock is currently owned by institutional investors and hedge funds.

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.