IRIDEX (NASDAQ:IRIX) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX – Get Rating) in a report issued on Tuesday. The brokerage set a “buy” rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

Shares of IRIDEX stock opened at $2.25 on Tuesday. The firm has a market cap of $36.02 million, a PE ratio of -5.00 and a beta of 1.25. The firm’s 50-day simple moving average is $2.18 and its 200-day simple moving average is $2.19. IRIDEX has a 1 year low of $1.96 and a 1 year high of $3.49.

IRIDEX (NASDAQ:IRIX – Get Rating) last issued its earnings results on Thursday, March 9th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $15.17 million. IRIDEX had a negative net margin of 13.25% and a negative return on equity of 39.69%. On average, equities analysts predict that IRIDEX will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On IRIDEX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Paragon Associates & Paragon Associates II Joint Venture raised its stake in IRIDEX by 42.1% during the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 799,385 shares of the medical equipment provider’s stock worth $1,927,000 after acquiring an additional 236,715 shares during the period. Isthmus Partners LLC increased its stake in shares of IRIDEX by 13.5% in the first quarter. Isthmus Partners LLC now owns 378,818 shares of the medical equipment provider’s stock valued at $769,000 after purchasing an additional 45,026 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of IRIDEX by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after purchasing an additional 9,361 shares during the period. State Street Corp increased its stake in shares of IRIDEX by 9.7% in the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock valued at $207,000 after purchasing an additional 3,956 shares during the period. Finally, Clayton Partners LLC acquired a new stake in shares of IRIDEX in the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 28.63% of the company’s stock.

About IRIDEX

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IRIDEX Corp. engages in developing, manufacturing, and marketing medical systems, delivery devices, and consumable instrumentation for the ophthalmology market. Its products include lasers, laser delivery and glaucoma devices, retinal surgical instruments, veterinary, and ENT. The company was founded by Eduardo Arias, Theodore A.