Shares of IRIDEX Co. (NASDAQ:IRIX) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $11.00 for the company and are expecting that the company will post ($0.32) EPS for the current quarter, according to Zacks. Zacks has also given IRIDEX an industry rank of 101 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research downgraded shares of IRIDEX from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st.

IRIX stock remained flat at $$6.64 during trading on Friday. 28,322 shares of the company’s stock were exchanged, compared to its average volume of 12,377. IRIDEX has a twelve month low of $4.28 and a twelve month high of $10.98. The company has a market cap of $77.27 million, a P/E ratio of -5.98 and a beta of 1.42.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, May 3rd. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.02. IRIDEX had a negative net margin of 35.95% and a negative return on equity of 44.78%. The business had revenue of $9.51 million during the quarter, compared to the consensus estimate of $8.80 million. equities research analysts expect that IRIDEX will post -1.16 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of IRIDEX by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 272,900 shares of the medical equipment provider’s stock valued at $2,079,000 after acquiring an additional 31,000 shares during the period. Deutsche Bank AG boosted its holdings in IRIDEX by 31.6% in the 4th quarter. Deutsche Bank AG now owns 35,430 shares of the medical equipment provider’s stock worth $269,000 after buying an additional 8,509 shares during the period. Lyon Street Capital LLC boosted its holdings in IRIDEX by 9.3% in the 4th quarter. Lyon Street Capital LLC now owns 483,760 shares of the medical equipment provider’s stock worth $3,686,000 after buying an additional 41,113 shares during the period. Isthmus Partners LLC boosted its holdings in IRIDEX by 10.0% in the 1st quarter. Isthmus Partners LLC now owns 88,464 shares of the medical equipment provider’s stock worth $506,000 after buying an additional 8,056 shares during the period. Finally, Blair William & Co. IL bought a new position in IRIDEX in the 1st quarter worth approximately $249,000. 48.84% 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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

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