IRIDEX (NASDAQ:IRIX) Major Shareholder Purchases $10,719.76 in Stock

IRIDEX Corporation (NASDAQ:IRIX) major shareholder Shih-Yao David Lin acquired 11,404 shares of the stock in a transaction on Monday, December 15th. The shares were bought at an average price of $0.94 per share, for a total transaction of $10,719.76. Following the purchase, the insider owned 917,052 shares in the company, valued at approximately $862,028.88. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

IRIDEX Price Performance

Shares of NASDAQ IRIX opened at $0.89 on Friday. The business has a fifty day moving average price of $0.73 and a two-hundred day moving average price of $0.95. The stock has a market capitalization of $15.64 million, a PE ratio of -4.45 and a beta of 0.67. IRIDEX Corporation has a fifty-two week low of $0.61 and a fifty-two week high of $1.65.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $12.57 million during the quarter, compared to the consensus estimate of $13.59 million. On average, equities analysts expect that IRIDEX Corporation will post -0.12 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On IRIDEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Weber Capital Management LLC ADV bought a new position in shares of IRIDEX in the 2nd quarter valued at $206,616. United Capital Financial Advisors LLC acquired a new position in shares of IRIDEX during the 2nd quarter worth $41,000. Diversify Wealth Management LLC bought a new stake in shares of IRIDEX during the 1st quarter worth $35,000. Diversify Advisory Services LLC bought a new stake in shares of IRIDEX during the 2nd quarter worth $30,000. Finally, Bank of New York Mellon Corp acquired a new stake in IRIDEX in the second quarter valued at about $29,000. 20.10% of the stock is currently owned by institutional investors.

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.