IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Trading Down 1.7 %

NASDAQ:IRIX opened at $2.80 on Friday. The stock has a market cap of $45.51 million, a P/E ratio of -4.75 and a beta of 0.82. The stock’s 50-day moving average is $2.83 and its 200-day moving average is $2.71. IRIDEX has a 1-year low of $1.31 and a 1-year high of $3.65.

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

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,103 shares of the medical equipment provider’s stock after buying an additional 306,282 shares during the period. IRIDEX comprises about 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th biggest position. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 as of its most recent filing with the SEC. 20.10% of the stock is currently owned by institutional investors and hedge funds.

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.