IRIDEX (NASDAQ:IRIX) Lifted to Hold at Zacks Investment Research
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, ValuEngine raised shares of IRIDEX from a hold rating to a buy rating in a research report on Tuesday, January 5th.
IRIDEX (NASDAQ:IRIX) last announced its earnings results on Monday, November 9th. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.06. The company had revenue of $8.80 million during the quarter, compared to analysts’ expectations of $7.79 million. IRIDEX had a negative net margin of 21.54% and a negative return on equity of 38.60%. As a group, equities research analysts expect that IRIDEX will post -0.56 earnings per share for the current year.
An institutional investor recently raised its position in IRIDEX stock. Isthmus Partners LLC increased its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,582 shares of the medical equipment provider’s stock after purchasing an additional 10,913 shares during the quarter. Isthmus Partners LLC owned 1.64% of IRIDEX worth $446,000 at the end of the most recent reporting period. Institutional investors own 32.32% of the company’s stock.
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 photocoagulation 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 photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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