IRIDEX (NASDAQ:IRIX) Research Coverage Started at began coverage on shares of IRIDEX (NASDAQ:IRIXGet Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the medical equipment provider’s stock.

Separately, Zacks Investment Research downgraded IRIDEX from a “hold” rating to a “sell” rating in a research report on Wednesday, March 16th.

Shares of NASDAQ:IRIX opened at $3.79 on Thursday. IRIDEX has a 1 year low of $3.62 and a 1 year high of $9.46. The firm has a market capitalization of $60.20 million, a price-to-earnings ratio of -11.15 and a beta of 1.23. The business’s 50 day moving average price is $4.32 and its 200-day moving average price is $5.60.

IRIDEX (NASDAQ:IRIXGet Rating) last announced its quarterly earnings data on Thursday, March 10th. The medical equipment provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). IRIDEX had a negative net margin of 9.69% and a negative return on equity of 32.53%. The firm had revenue of $15.25 million during the quarter, compared to analysts’ expectations of $15.18 million. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, analysts forecast that IRIDEX will post -0.5 earnings per share for the current year.

Several large investors have recently modified their holdings of IRIX. Morgan Stanley purchased a new position in shares of IRIDEX in the 1st quarter worth about $40,000. Millennium Management LLC acquired a new position in shares of IRIDEX during the 2nd quarter valued at $378,000. Neuberger Berman Group LLC grew its holdings in shares of IRIDEX by 35.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 75,850 shares of the medical equipment provider’s stock worth $581,000 after acquiring an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IRIDEX by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 202,533 shares of the medical equipment provider’s stock worth $1,551,000 after buying an additional 19,180 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of IRIDEX in the third quarter worth $266,000. Institutional investors and hedge funds own 22.10% of the company’s stock.

IRIDEX Company Profile (Get Rating)

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 photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; 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.

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