IRIDEX (NASDAQ:IRIX) Major Shareholder Purchases $27,246.84 in Stock

IRIDEX Corporation (NASDAQ:IRIX) major shareholder Shih-Yao David Lin bought 19,324 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average price of $1.41 per share, for a total transaction of $27,246.84. Following the transaction, the insider directly owned 1,058,323 shares in the company, valued at $1,492,235.43. This trade represents a 1.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

IRIDEX Price Performance

IRIX opened at $0.89 on Friday. The business has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $0.95. The stock has a market capitalization of $15.64 million, a P/E ratio of -4.45 and a beta of 0.67. IRIDEX Corporation has a 12 month low of $0.61 and a 12 month high of $1.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $12.57 million during the quarter, compared to analysts’ expectations of $13.59 million. Research analysts anticipate that IRIDEX Corporation will post -0.12 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IRIDEX has an average rating of “Hold” and an average target price of $3.00.

Institutional Trading of IRIDEX

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in shares of IRIDEX during the 2nd quarter worth approximately $29,000. Diversify Advisory Services LLC purchased a new stake in IRIDEX in the 2nd quarter valued at approximately $30,000. Diversify Wealth Management LLC purchased a new stake in IRIDEX in the 1st quarter valued at approximately $35,000. United Capital Financial Advisors LLC acquired a new stake in IRIDEX during the 2nd quarter valued at $41,000. Finally, Thompson Davis & CO. Inc. grew its holdings in IRIDEX by 66.5% during the 1st quarter. Thompson Davis & CO. Inc. now owns 47,444 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 18,944 shares during the last quarter. 20.10% of the stock is currently owned by institutional investors and hedge funds.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) develops and sells ophthalmic laser systems and related delivery devices used in the treatment of eye diseases. Its products are designed primarily for ophthalmologists treating glaucoma and retinal disorders, including diabetic retinopathy and other conditions affecting the retina.

The company’s portfolio includes laser systems such as the Cyclo G6 glaucoma laser platform and the IQ series of retinal photocoagulation lasers. IRIDEX also offers specialized probes and other delivery devices, including MicroPulse and transscleral cyclophotocoagulation technologies, which are intended to provide targeted treatment while limiting exposure to surrounding tissue.

Founded in 1989 and headquartered in Mountain View, California, IRIDEX serves eye-care professionals through a combination of direct sales and distributor relationships in the United States and international markets.