IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

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

IRIDEX Price Performance

Shares of NASDAQ IRIX opened at $2.80 on Friday. The company has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $2.71. IRIDEX has a 12 month low of $1.31 and a 12 month high of $3.65. The company has a market cap of $45.50 million, a PE ratio of -4.75 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13). IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. The business had revenue of $12.46 million for the quarter, compared to analyst estimates of $14.90 million. On average, 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 grew its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the period. IRIDEX accounts for 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest position. AMH Equity Ltd owned approximately 2.81% of IRIDEX worth $1,360,000 as of its most recent SEC filing. Institutional investors own 20.10% 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 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.