StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

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

IRIDEX Stock Up 2.2 %

Shares of IRIX opened at $1.39 on Friday. IRIDEX has a twelve month low of $1.27 and a twelve month high of $3.65. The stock has a market cap of $22.95 million, a PE ratio of -2.11 and a beta of 0.80. The business’s 50-day moving average price is $1.71 and its 200-day moving average price is $2.06.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted ($0.17) EPS.

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. boosted its holdings in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,300 shares of the medical equipment provider’s stock after acquiring an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by hedge funds and other institutional investors.

IRIDEX Company Profile

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.