IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Trading Down 1.7 %

IRIDEX stock opened at $2.80 on Friday. IRIDEX has a 12-month low of $1.31 and a 12-month high of $3.65. The firm has a 50-day moving average price of $2.83 and a 200-day moving average price of $2.71. The firm has a market capitalization of $45.51 million, a PE ratio of -4.75 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. The business had revenue of $12.46 million for the quarter, compared to analysts’ expectations of $14.90 million. As a group, sell-side analysts predict that IRIDEX will post -0.37 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 lifted its position in IRIDEX Co. (NASDAQ:IRIX) by 92.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the period. IRIDEX comprises about 2.1% of AMH Equity Ltd’s portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 at the end of the most recent reporting period. Institutional investors own 20.10% of the company’s stock.

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.