IRIDEX (NASDAQ:IRIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
Separately, Roth Capital restated a “buy” rating and set a $13.00 target price on shares of IRIDEX in a report on Friday, November 3rd.
In other news, CEO William M. Moore bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were acquired at an average cost of $7.84 per share, for a total transaction of $39,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IRIX. Lyon Street Capital LLC acquired a new position in IRIDEX during the first quarter worth $4,242,000. First Light Asset Management LLC acquired a new position in IRIDEX during the second quarter worth $997,000. Osborne Partners Capital Management LLC acquired a new position in IRIDEX during the third quarter worth $673,000. Goldman Sachs Group Inc. acquired a new position in IRIDEX during the second quarter worth $607,000. Finally, Isthmus Partners LLC increased its holdings in IRIDEX by 55.8% during the second quarter. Isthmus Partners LLC now owns 73,263 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 26,228 shares during the last quarter. Institutional investors and hedge funds own 49.31% of the company’s stock.
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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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