IRIDEX (NASDAQ:IRIX) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of IRIDEX (NASDAQ:IRIX) in a report issued on Sunday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Down 3.4 %

IRIX opened at $1.15 on Friday. The company has a market capitalization of $19.31 million, a P/E ratio of -1.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. The firm’s fifty day moving average price is $1.07 and its two-hundred day moving average price is $1.44. IRIDEX has a fifty-two week low of $0.78 and a fifty-two week high of $3.25.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). IRIDEX had a negative net margin of 22.79% and a negative return on equity of 192.95%. The business had revenue of $12.70 million for the quarter, compared to analyst estimates of $12.80 million.

Insider Buying and Selling

In other news, Director Beverly A. Huss purchased 25,900 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $1.22 per share, with a total value of $31,598.00. Following the acquisition, the director now directly owns 92,639 shares of the company’s stock, valued at approximately $113,019.58. This trade represents a 38.81 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased 38,246 shares of company stock worth $47,154 in the last 90 days. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its holdings in IRIDEX Co. (NASDAQ:IRIX) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,541 shares of the medical equipment provider’s stock after buying an additional 17,420 shares during the quarter. AMH Equity Ltd owned about 3.09% of IRIDEX worth $513,000 at the end of the most recent quarter. 20.10% of the stock is owned by institutional investors.

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.