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

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

Separately, Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.00 price objective on shares of IRIDEX in a report on Wednesday, May 15th.

IRIDEX Trading Up 2.8 %

IRIX stock opened at $2.01 on Thursday. The firm has a market capitalization of $32.67 million, a PE ratio of -3.00 and a beta of 0.83. IRIDEX has a 1-year low of $1.55 and a 1-year high of $3.65. The business’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $2.44.

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). The business had revenue of $12.63 million for the quarter, compared to analyst estimates of $12.80 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts predict that IRIDEX will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. Perkins Capital Management Inc. raised its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,300 shares of the medical equipment provider’s stock after buying 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 owned by institutional investors and hedge funds.

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.