Eidelman Virant Capital raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,193 shares of the medical equipment provider’s stock after acquiring an additional 40,000 shares during the quarter. Eidelman Virant Capital owned approximately 1.31% of IRIDEX worth $966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in IRIDEX by 9.9% during the 2nd quarter. Renaissance Technologies LLC now owns 321,400 shares of the medical equipment provider’s stock valued at $2,237,000 after acquiring an additional 28,900 shares during the last quarter. BlackRock Inc. raised its holdings in shares of IRIDEX by 29.2% during the second quarter. BlackRock Inc. now owns 35,807 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 8,083 shares during the period. Perkins Capital Management Inc. raised its holdings in shares of IRIDEX by 23.1% during the second quarter. Perkins Capital Management Inc. now owns 71,950 shares of the medical equipment provider’s stock worth $501,000 after purchasing an additional 13,500 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of IRIDEX during the first quarter worth $249,000. Hedge funds and other institutional investors own 47.53% of the company’s stock.

Shares of NASDAQ:IRIX traded up $0.04 on Wednesday, reaching $5.49. 3,900 shares of the company’s stock were exchanged, compared to its average volume of 22,489. The stock has a market capitalization of $74.07 million, a price-to-earnings ratio of -4.88 and a beta of 1.68. IRIDEX Co. has a fifty-two week low of $4.28 and a fifty-two week high of $9.65.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.04. The company had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $9.21 million. IRIDEX had a negative net margin of 36.98% and a negative return on equity of 51.61%. On average, sell-side analysts predict that IRIDEX Co. will post -1.14 earnings per share for the current fiscal year.

In other news, insider Associates & Paragon A. Paragon acquired 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were acquired at an average price of $6.00 per share, with a total value of $420,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman William M. Moore acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was purchased at an average cost of $6.56 per share, for a total transaction of $65,600.00. Following the acquisition, the chairman now owns 201,800 shares in the company, valued at $1,323,808. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Roth Capital reissued a “buy” rating and set a $10.00 target price on shares of IRIDEX in a report on Friday, October 12th. Zacks Investment Research raised shares of IRIDEX from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Thursday, August 9th.

IRIDEX 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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Institutional Ownership by Quarter for IRIDEX (NASDAQ:IRIX)

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