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

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

Separately, Stifel Nicolaus reiterated a hold rating and issued a $2.00 target price on shares of IRIDEX in a research report on Wednesday, May 15th.

IRIDEX Stock Performance

IRIX stock traded up $0.15 during trading on Monday, reaching $1.91. The company had a trading volume of 17,224 shares, compared to its average volume of 32,025. IRIDEX has a twelve month low of $1.31 and a twelve month high of $3.65. The company has a market cap of $31.04 million, a price-to-earnings ratio of -2.78 and a beta of 0.83. The firm has a 50-day simple moving average of $2.12 and a 200-day simple moving average of $2.55.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The company had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $12.00 million. During the same period last year, the firm earned ($0.13) earnings per share. Sell-side analysts expect that IRIDEX will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd increased its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the period. IRIDEX comprises 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th largest position. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.