IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report sent to investors on Thursday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Down 1.3 %

IRIX opened at $1.52 on Thursday. The company has a market cap of $25.10 million, a price-to-earnings ratio of -2.30 and a beta of 0.78. The company’s fifty day moving average price is $1.81 and its two-hundred day moving average price is $2.18. IRIDEX has a 1-year low of $1.45 and a 1-year high of $3.65.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data 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 company had revenue of $12.63 million for the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative return on equity of 134.37% and a negative net margin of 21.84%. During the same period in the prior year, the firm posted ($0.17) earnings per share.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. grew its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the quarter. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 20.10% of the company’s stock.

About IRIDEX

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.