IRIDEX (NASDAQ:IRIX) Now Covered by StockNews.com

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

IRIDEX Trading Down 1.3 %

IRIDEX stock opened at $1.52 on Thursday. The business’s 50 day simple moving average is $1.81 and its 200 day simple moving average is $2.18. IRIDEX has a 12 month low of $1.45 and a 12 month high of $3.65. The company has a market cap of $25.10 million, a price-to-earnings ratio of -2.30 and a beta of 0.78.

IRIDEX (NASDAQ:IRIX) last posted its quarterly 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 return on equity of 134.37% and a negative net margin of 21.84%. The firm had revenue of $12.63 million for the quarter, compared to the consensus estimate of $12.80 million. During the same quarter in the previous year, the company posted ($0.17) EPS.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 456,400 shares of the medical equipment provider’s stock after buying an additional 60,400 shares during the quarter. IRIDEX comprises 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th largest holding. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission. 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.