Zacks Investment Research upgraded shares of IRIDEX Corporation (NASDAQ:IRIX) from a sell rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “

Shares of IRIDEX Corporation (NASDAQ:IRIX) opened at 9.94 on Wednesday. The firm has a 50 day moving average price of $9.18 and a 200-day moving average price of $9.68. IRIDEX Corporation has a 12 month low of $7.58 and a 12 month high of $16.39. The company’s market cap is $114.98 million.

IRIDEX Corporation (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). IRIDEX Corporation had a negative return on equity of 16.87% and a negative net margin of 37.62%. The firm had revenue of $10.00 million for the quarter, compared to the consensus estimate of $10.48 million. Analysts anticipate that IRIDEX Corporation will post ($0.72) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/08/iridex-corporation-irix-upgraded-to-hold-by-zacks-investment-research.html.

Several large investors have recently modified their holdings of IRIX. Susquehanna International Group LLP bought a new stake in shares of IRIDEX Corporation during the second quarter worth approximately $196,000. LMR Partners LLP bought a new stake in shares of IRIDEX Corporation during the second quarter worth approximately $242,000. Goldman Sachs Group Inc. bought a new stake in shares of IRIDEX Corporation during the second quarter worth approximately $607,000. Isthmus Partners LLC boosted its holdings in shares of IRIDEX Corporation by 55.8% during the second quarter. Isthmus Partners LLC now owns 73,263 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 26,228 shares during the period. Finally, First Light Asset Management LLC bought a new stake in shares of IRIDEX Corporation during the second quarter worth approximately $997,000. Institutional investors own 47.46% of the company’s stock.

IRIDEX Corporation Company Profile

IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Company operates through ophthalmology segment. Its ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD).

Get a free copy of the Zacks research report on IRIDEX Corporation (IRIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for IRIDEX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IRIDEX Corporation and related stocks with our FREE daily email newsletter.