StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX – Get Rating) in a research note issued to investors on Monday. The firm issued a buy rating on the medical equipment provider’s stock.
IRIDEX Stock Performance
Shares of IRIDEX stock opened at $2.21 on Monday. The company has a market capitalization of $35.33 million, a PE ratio of -4.02 and a beta of 1.27. The company has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $2.45. IRIDEX has a one year low of $1.96 and a one year high of $5.88.
IRIDEX (NASDAQ:IRIX – Get Rating) last posted its quarterly earnings data on Thursday, November 10th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.04. IRIDEX had a negative net margin of 15.50% and a negative return on equity of 43.06%. The firm had revenue of $14.64 million for the quarter, compared to the consensus estimate of $13.87 million. On average, equities analysts predict that IRIDEX will post -0.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On IRIDEX
Several hedge funds have recently bought and sold shares of the stock. Paragon Associates & Paragon Associates II Joint Venture boosted its position in IRIDEX by 42.1% in the 3rd 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 purchasing an additional 236,715 shares in the last quarter. Isthmus Partners LLC lifted its position in shares of IRIDEX by 26.0% during the 2nd quarter. Isthmus Partners LLC now owns 286,139 shares of the medical equipment provider’s stock valued at $735,000 after buying an additional 59,020 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IRIDEX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after buying an additional 9,361 shares in the last quarter. Perkins Capital Management Inc. lifted its position in shares of IRIDEX by 15.9% during the 2nd quarter. Perkins Capital Management Inc. now owns 80,346 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 11,000 shares in the last quarter. Finally, State Street Corp lifted its position in shares of IRIDEX by 9.7% during the 1st quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock valued at $207,000 after buying an additional 3,956 shares in the last quarter. Hedge funds and other institutional investors own 28.63% of the company’s stock.
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 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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