IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

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

IRIDEX Price Performance

Shares of IRIX stock opened at $1.71 on Monday. The company has a market cap of $27.79 million, a price-to-earnings ratio of -2.56 and a beta of 0.78. IRIDEX has a 1 year low of $1.63 and a 1 year high of $3.65. The firm has a fifty day moving average price of $1.93 and a 200-day moving average price of $2.33.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The company 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 firm posted ($0.17) EPS. Equities research analysts expect that IRIDEX will post -0.52 EPS for the current year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. grew its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.10% of the stock is currently owned by hedge funds and other 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.