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

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

IRIDEX Price Performance

IRIX stock opened at $1.81 on Friday. The stock has a market capitalization of $29.88 million, a PE ratio of -2.70 and a beta of 0.78. The company has a 50 day moving average price of $1.95 and a 200 day moving average price of $2.35. IRIDEX has a fifty-two week low of $1.63 and a fifty-two week high of $3.65.

IRIDEX (NASDAQ:IRIX) last posted 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). The firm had revenue of $12.63 million during the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. During the same quarter in the prior year, the business earned ($0.17) EPS. As a group, equities analysts expect that IRIDEX will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its stake 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 firm 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 largest holding. AMH Equity Ltd owned about 2.81% of IRIDEX worth $1,360,000 as of its most recent SEC filing. 20.10% of the stock is owned by institutional investors and hedge funds.

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.