IRIDEX (NASDAQ:IRIX) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Trading Down 1.8 %

NASDAQ IRIX opened at $2.80 on Friday. The business has a fifty day simple moving average of $2.83 and a 200 day simple moving average of $2.71. IRIDEX has a 12 month low of $1.31 and a 12 month high of $3.65. The firm has a market capitalization of $45.50 million, a P/E ratio of -4.75 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.13). IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The firm had revenue of $12.46 million during the quarter, compared to the consensus estimate of $14.90 million. As a group, sell-side analysts predict that IRIDEX will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the quarter. IRIDEX makes up about 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th largest position. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.