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

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

IRIDEX Price Performance

IRIX opened at $1.73 on Monday. The company has a 50 day simple moving average of $1.94 and a two-hundred day simple moving average of $2.33. The firm has a market cap of $28.12 million, a P/E ratio of -2.58 and a beta of 0.78. IRIDEX has a 1-year low of $1.63 and a 1-year high of $3.65.

IRIDEX (NASDAQ:IRIX) last issued 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). The firm had revenue of $12.63 million during the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative return on equity of 134.37% and a negative net margin of 21.84%. During the same period in the prior year, the company posted ($0.17) EPS. Equities analysts anticipate that IRIDEX will post -0.52 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 grew its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the period. IRIDEX makes up approximately 1.3% of AMH Equity Ltd’s investment portfolio, making the stock its 20th biggest position. AMH Equity Ltd owned 2.81% of IRIDEX worth $1,360,000 at the end of the most recent reporting period. 20.10% of the stock is 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.