IRIDEX (IRIX) Upgraded by Zacks Investment Research to “Hold”
IRIDEX (NASDAQ:IRIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Separately, Roth Capital reiterated a “buy” rating and issued a $13.00 price objective on shares of IRIDEX in a research note on Friday, November 3rd.
In other IRIDEX news, CEO William M. Moore bought 5,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were acquired at an average price of $7.84 per share, with a total value of $39,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.01% of the company’s stock.
A number of hedge funds have recently modified their holdings of IRIX. LMR Partners LLP bought a new stake in IRIDEX during the 2nd quarter valued at $242,000. Isthmus Partners LLC raised its holdings in IRIDEX by 55.8% during the 2nd quarter. Isthmus Partners LLC now owns 73,263 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 26,228 shares during the period. Vanguard Group Inc. raised its holdings in IRIDEX by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 392,317 shares of the medical equipment provider’s stock valued at $3,880,000 after acquiring an additional 1,731 shares during the period. First Light Asset Management LLC bought a new stake in IRIDEX during the 2nd quarter valued at $997,000. Finally, Goldman Sachs Group Inc. bought a new stake in IRIDEX during the 2nd quarter valued at $607,000. 49.31% of the stock is currently owned by institutional investors and hedge funds.
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IRIDEX 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).
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