IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a research note released on Saturday morning. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Stock Up 6.6 %

Shares of IRIX stock opened at $1.30 on Friday. IRIDEX has a 1-year low of $0.78 and a 1-year high of $3.25. The stock’s fifty day moving average price is $1.09 and its 200 day moving average price is $1.46. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. The company has a market cap of $21.83 million, a price-to-earnings ratio of -1.94 and a beta of 0.74.

IRIDEX (NASDAQ:IRIX) last announced its earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%. The firm had revenue of $12.70 million for the quarter, compared to the consensus estimate of $12.80 million.

Insider Buying and Selling

In other news, Director Beverly A. Huss purchased 25,900 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average price of $1.22 per share, for a total transaction of $31,598.00. Following the purchase, the director now owns 92,639 shares in the company, valued at $113,019.58. This trade represents a 38.81 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 38,046 shares of company stock worth $46,916 in the last ninety days. 7.30% of the stock is owned by insiders.

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.