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

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

IRIDEX Price Performance

NASDAQ:IRIX opened at $1.47 on Tuesday. The business’s 50 day moving average is $1.88 and its two-hundred day moving average is $2.29. IRIDEX has a 52 week low of $1.46 and a 52 week high of $3.65.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $12.80 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, equities analysts expect that IRIDEX will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. increased its stake in IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter. 20.10% of the stock is owned by hedge funds and other institutional investors.

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.