StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX – Free Report) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the medical equipment provider’s stock.
Separately, Stifel Nicolaus reissued a hold rating and set a $2.00 price target on shares of IRIDEX in a research report on Wednesday, May 15th.
IRIDEX Stock Up 3.5 %
IRIDEX (NASDAQ:IRIX – Get Free Report) last announced its earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. The business had revenue of $11.76 million for the quarter, compared to analyst estimates of $12.00 million. During the same period last year, the firm earned ($0.13) EPS. As a group, research analysts anticipate that IRIDEX will post -0.49 earnings per share for the current year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its position in shares of IRIDEX Co. (NASDAQ:IRIX – Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the quarter. IRIDEX makes up about 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest holding. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 at the end of the most recent reporting period. Hedge funds and other 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.
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