IRIDEX (NASDAQ:IRIX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a report released on Thursday. The brokerage issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Down 5.0 %

Shares of IRIDEX stock opened at $3.02 on Thursday. The stock has a 50 day moving average price of $2.76 and a 200-day moving average price of $2.72. IRIDEX has a one year low of $1.31 and a one year high of $3.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, March 26th. The medical equipment provider reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.13). IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The firm had revenue of $12.46 million for the quarter, compared to analysts’ expectations of $14.90 million. Sell-side analysts expect that IRIDEX will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IRIDEX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp bought a new position in IRIDEX in the 1st quarter valued at $56,000. Clayton Partners LLC bought a new position in shares of IRIDEX in the first quarter worth about $58,000. State Street Corp increased its stake in IRIDEX by 9.7% in the 1st quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 3,956 shares during the period. Dimensional Fund Advisors LP lifted its holdings in IRIDEX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after buying an additional 9,361 shares in the last quarter. Finally, AMH Equity Ltd boosted its position in IRIDEX by 92.6% in the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock valued at $1,618,000 after buying an additional 306,282 shares during the period. 20.10% of the stock is currently owned by hedge funds and other 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.