StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

Stock analysts at StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a report released on Monday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

Shares of NASDAQ:IRIX opened at $1.10 on Monday. The company has a market capitalization of $18.47 million, a price-to-earnings ratio of -1.64 and a beta of 0.69. IRIDEX has a 52 week low of $0.78 and a 52 week high of $3.24. 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 firm has a 50 day moving average of $1.04 and a 200 day moving average of $1.43.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, May 13th. The medical equipment provider reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). IRIDEX had a negative net margin of 22.79% and a negative return on equity of 192.95%. The company had revenue of $11.90 million during the quarter, compared to the consensus estimate of $12.10 million.

Insiders Place Their Bets

In other news, Director Beverly A. Huss purchased 25,900 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average cost of $1.22 per share, with a total value of $31,598.00. Following the completion of the acquisition, the director now owns 92,639 shares of the company’s stock, valued at $113,019.58. This trade represents a 38.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 38,639 shares of company stock valued at $47,607. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd increased its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 3.09% of IRIDEX worth $513,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.10% of the company’s stock.

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.