IRIDEX (NASDAQ:IRIX) Issues Quarterly Earnings Results

IRIDEX (NASDAQ:IRIX) announced its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.12) EPS for the quarter, Zacks reports. The company had revenue of $11.58 million during the quarter. IRIDEX had a negative net margin of 22.79% and a negative return on equity of 163.45%. During the same quarter in the prior year, the company earned ($0.11) EPS.

IRIDEX Price Performance

Shares of IRIX traded up $0.47 during mid-day trading on Wednesday, reaching $1.88. 299,628 shares of the company’s stock were exchanged, compared to its average volume of 31,082. The stock has a market capitalization of $31.04 million, a PE ratio of -2.78 and a beta of 0.80. The business’s fifty day simple moving average is $1.69 and its 200-day simple moving average is $2.03. IRIDEX has a 52-week low of $1.27 and a 52-week high of $3.65.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of IRIDEX in a research report on Saturday. They set a “hold” rating on the stock.

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.