IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

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

Separately, Stifel Nicolaus reaffirmed a hold rating and set a $2.00 target price on shares of IRIDEX in a research note on Wednesday, May 15th.

IRIDEX Stock Performance

NASDAQ:IRIX opened at $1.92 on Wednesday. The business has a fifty day moving average of $2.01 and a 200-day moving average of $2.46. IRIDEX has a 1 year low of $1.35 and a 1 year high of $3.65. The stock has a market cap of $31.21 million, a price-to-earnings ratio of -2.87 and a beta of 0.83.

IRIDEX (NASDAQ:IRIX) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The firm had revenue of $12.63 million for the quarter, compared to the consensus estimate of $12.80 million. During the same period in the prior year, the business earned ($0.17) EPS. On average, equities research analysts predict that IRIDEX will post -0.49 EPS for the current year.

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd grew its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the period. IRIDEX comprises about 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th biggest holding. AMH Equity Ltd owned 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.