Second Sight Medical Products, Inc. (EYES) Issues Quarterly Earnings Results
Second Sight Medical Products, Inc. (NASDAQ:EYES) announced its quarterly earnings data on Thursday. The medical device company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.61 million during the quarter, compared to analysts’ expectations of $1.54 million. Second Sight Medical Products had a negative return on equity of 171.77% and a negative net margin of 565.12%.
Shares of Second Sight Medical Products (EYES) traded up $0.08 during mid-day trading on Friday, hitting $1.16. The stock had a trading volume of 402,031 shares, compared to its average volume of 501,390.
EYES has been the subject of several recent research reports. Zacks Investment Research raised Second Sight Medical Products from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. HC Wainwright set a $5.00 price target on Second Sight Medical Products and gave the company a “buy” rating in a research note on Tuesday, October 17th.
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A hedge fund recently raised its stake in Second Sight Medical Products stock. Vanguard Group Inc. grew its stake in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 843,462 shares of the medical device company’s stock after acquiring an additional 5,973 shares during the quarter. Vanguard Group Inc. owned 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.06% of the company’s stock.
About Second Sight Medical Products
Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.
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