StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report released on Sunday morning. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Down 5.0 %

Shares of NASDAQ:IRIX opened at $1.72 on Friday. IRIDEX has a 12-month low of $1.63 and a 12-month high of $3.65. The stock has a fifty day simple moving average of $1.95 and a two-hundred day simple moving average of $2.36. The stock has a market capitalization of $27.96 million, a price-to-earnings ratio of -2.57 and a beta of 0.78.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $12.63 million for the quarter, compared to analysts’ expectations of $12.80 million. IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, equities research analysts predict that IRIDEX will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd boosted its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the quarter. IRIDEX accounts for 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest holding. AMH Equity Ltd owned 2.81% of IRIDEX worth $1,360,000 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

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.