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

StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report sent to investors on Tuesday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Price Performance

Shares of NASDAQ IRIX opened at $1.02 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $1.41. The company has a market cap of $17.12 million, a PE ratio of -1.52 and a beta of 0.69. IRIDEX has a twelve month low of $0.78 and a twelve month high of $2.77.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%. The business had revenue of $11.90 million for the quarter, compared to analyst estimates of $12.10 million.

Insider Buying and Selling

In related news, Director Beverly A. Huss acquired 25,900 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average cost of $1.22 per share, for a total transaction of $31,598.00. Following the completion of the transaction, the director now directly owns 92,639 shares of the company’s stock, valued at approximately $113,019.58. The trade was a 38.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders purchased 39,099 shares of company stock valued at $48,113. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd raised its position in IRIDEX Co. (NASDAQ:IRIX) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 3.09% of IRIDEX worth $513,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by institutional investors.

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.