IRIDEX’s (IRIX) “Hold” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of IRIDEX (NASDAQ:IRIXFree Report) in a report issued on Wednesday, Benzinga reports. They currently have a $2.00 target price on the medical equipment provider’s stock.

Separately, StockNews.com started coverage on IRIDEX in a report on Sunday, May 12th. They issued a hold rating for the company.

Read Our Latest Research Report on IRIX

IRIDEX Trading Up 1.1 %

IRIX opened at $2.66 on Wednesday. The firm’s 50 day moving average is $2.87 and its 200-day moving average is $2.70. IRIDEX has a 52-week low of $1.31 and a 52-week high of $3.65.

IRIDEX (NASDAQ:IRIXGet Free Report) last released its quarterly earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $12.00 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same period last year, the firm earned ($0.13) EPS. On average, sell-side analysts anticipate that IRIDEX will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its stake in shares of IRIDEX Co. (NASDAQ:IRIXFree Report) by 92.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the period. IRIDEX comprises about 2.1% of AMH Equity Ltd’s investment portfolio, making the stock its 13th biggest holding. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.10% of the company’s stock.

IRIDEX Company Profile

(Get Free Report)

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.

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