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

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

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

IRIDEX Stock Performance

NASDAQ:IRIX opened at $2.10 on Thursday. The firm has a market cap of $34.13 million, a P/E ratio of -3.13 and a beta of 0.80. The firm has a 50-day simple moving average of $2.74 and a 200-day simple moving average of $2.73. IRIDEX has a one year low of $1.31 and a one year high of $3.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $11.76 million for the quarter, compared to the consensus estimate of $12.00 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same quarter last year, the firm earned ($0.13) EPS. On average, research analysts predict that IRIDEX will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. 20.10% of the stock is owned by institutional investors.

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.