StockNews.com launches coverage on IRIDEX (NASDAQ:IRIX)
Separately, Zacks Investment Research downgraded IRIDEX shares from a “hold” to a “sell” rating in a research report on Wednesday.
IRIX opened at $3.08 on Friday. IRIDEX has a 1-year low of $2.88 and a 1-year high of $9.46. The company has a market capitalization of $48.93 million, a P/E ratio of -8.80 and a beta of 1.23. The company has a fifty-day moving average price of $4.05 and a two-hundred-day moving average price of $5.24.
IRIDEX (NASDAQ:IRIX – Get a rating) last released its quarterly results on Thursday, March 10. The medical equipment supplier reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). IRIDEX had a negative net margin of 10.13% and a negative return on equity of 35.55%. The company posted revenue of $15.25 million in the quarter, versus a consensus estimate of $15.18 million. During the same period last year, the company posted ($0.01) earnings per share. As a group, analysts expect IRIDEX to post -0.5 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Northern Trust Corp increased its position in IRIDEX by 6.4% in the fourth quarter. Northern Trust Corp now owns 38,889 shares of the medical equipment supplier worth $237,000 after buying 2,347 more shares last quarter. State Street Corp increased its position in IRIDEX by 9.7% in the 1st quarter. State Street Corp now owns 44,718 shares of the medical equipment supplier worth $207,000 after buying 3,956 additional shares last quarter. Perkins Capital Management Inc. increased its position in IRIDEX by 8.8% in the 1st quarter. Perkins Capital Management Inc. now owns 69,346 shares of the medical equipment supplier worth $321,000 after buying an additional 5,600 shares last quarter. Morgan Stanley bought a new stake in IRIDEX in Q1 worth around $40,000. Finally, Dimensional Fund Advisors LP increased its position in IRIDEX by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment supplier worth $1,115,000 after buying 9,361 additional shares in the last quarter. 22.10% of the shares are held by institutional investors.
About IRIDEX (Get a rating)
IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic laser systems, delivery devices and consumable instruments to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as the Cyclo G6 laser system for the treatment of glaucoma; the IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and the OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL and OcuLight GLx laser photocoagulation systems which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments.
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