Second Sight Medical Products, Inc. (NASDAQ:EYES) announced its earnings results on Thursday. The medical device company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02, Bloomberg Earnings reports. Second Sight Medical Products had a negative return on equity of 171.77% and a negative net margin of 565.12%. The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.54 million.
Second Sight Medical Products (NASDAQ:EYES) traded up $0.07 during trading on Friday, reaching $1.15. The company’s stock had a trading volume of 531,098 shares, compared to its average volume of 501,390.
An institutional investor recently raised its position in Second Sight Medical Products stock. Vanguard Group Inc. boosted its position in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 843,462 shares of the medical device company’s stock after buying an additional 5,973 shares during the quarter. Vanguard Group Inc. owned approximately 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent reporting period. 13.06% of the stock is owned by institutional investors.
EYES has been the topic of several research analyst reports. HC Wainwright set a $5.00 price target on Second Sight Medical Products and gave the company a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Second Sight Medical Products from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th.
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Second Sight Medical Products Company Profile
Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.
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