IRIDEX (NASDAQ:IRIX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report sent to investors on Friday morning. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Stock Down 0.3 %

NASDAQ IRIX opened at $2.86 on Friday. IRIDEX has a 52 week low of $1.31 and a 52 week high of $3.65. The company has a fifty day moving average of $2.81 and a two-hundred day moving average of $2.71. The firm has a market capitalization of $46.48 million, a price-to-earnings ratio of -4.85 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The firm had revenue of $12.46 million during the quarter, compared to analysts’ expectations of $14.90 million. IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. Equities research analysts anticipate that IRIDEX will post -0.37 EPS for the current year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the quarter. IRIDEX makes up about 2.1% of AMH Equity Ltd’s portfolio, making the stock its 13th biggest position. AMH Equity Ltd owned approximately 3.93% of IRIDEX worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission. 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.