IRIDEX Co. (IRIX) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of IRIDEX Co. (NASDAQ:IRIX) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a one year consensus target price of $13.00 for the company and are anticipating that the company will post ($0.21) EPS for the current quarter, according to Zacks. Zacks has also assigned IRIDEX an industry rank of 84 out of 265 based on the ratings given to its competitors.

Several research analysts recently commented on the company. Roth Capital reissued a “buy” rating and issued a $13.00 price objective on shares of IRIDEX in a research note on Friday, November 3rd. Zacks Investment Research raised IRIDEX from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th.

In other news, CEO William M. Moore acquired 5,000 shares of IRIDEX stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average cost of $7.84 per share, with a total value of $39,200.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in IRIDEX by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 392,317 shares of the medical equipment provider’s stock valued at $3,880,000 after purchasing an additional 1,731 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of IRIDEX in the 3rd quarter worth $141,000. Lyon Street Capital LLC increased its stake in shares of IRIDEX by 4.5% in the 3rd quarter. Lyon Street Capital LLC now owns 442,647 shares of the medical equipment provider’s stock worth $4,148,000 after acquiring an additional 19,059 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of IRIDEX in the 2nd quarter worth $196,000. Finally, LMR Partners LLP acquired a new stake in shares of IRIDEX in the 2nd quarter worth $242,000. 49.31% of the stock is owned by hedge funds and other institutional investors.

Shares of IRIDEX (IRIX) traded down $0.05 during mid-day trading on Friday, hitting $7.69. The stock had a trading volume of 30,860 shares, compared to its average volume of 29,274. IRIDEX has a twelve month low of $7.43 and a twelve month high of $16.37.

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IRIDEX Company Profile

IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Company operates through ophthalmology segment. Its ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD).

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