StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a report issued on Monday morning. The brokerage issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Up 1.0 %

IRIX opened at $2.98 on Monday. The business’s 50 day moving average is $2.64 and its 200-day moving average is $2.60. The stock has a market cap of $48.43 million, a PE ratio of -5.05 and a beta of 0.81. IRIDEX has a twelve month low of $1.31 and a twelve month high of $3.48.

Institutional Investors Weigh In On IRIDEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new stake in IRIDEX during the first quarter worth approximately $56,000. Clayton Partners LLC acquired a new position in IRIDEX in the first quarter worth approximately $58,000. State Street Corp grew its position in IRIDEX by 9.7% in the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 3,956 shares during the last quarter. Dimensional Fund Advisors LP grew its position in IRIDEX by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after buying an additional 9,361 shares during the last quarter. Finally, AMH Equity Ltd grew its position in IRIDEX by 92.6% in the third quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock worth $1,618,000 after buying an additional 306,282 shares during the last quarter. Institutional investors own 20.10% of the company’s stock.

About IRIDEX

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 systems, which are used for the treatment of retinal disorders; 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.