Shares of IRIDEX Co. (NASDAQ:IRIX) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price target of $6.50 for the company and are predicting that the company will post ($0.17) EPS for the current quarter, according to Zacks. Zacks has also given IRIDEX an industry rank of 69 out of 255 based on the ratings given to its competitors.
A number of brokerages have commented on IRIX. ValuEngine upgraded shares of IRIDEX from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of IRIDEX from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Thursday.
A number of hedge funds have recently modified their holdings of IRIX. Balter Liquid Alternatives LLC acquired a new position in IRIDEX in the 2nd quarter worth $901,000. Isthmus Partners LLC acquired a new position in IRIDEX in the 2nd quarter worth $677,000. LPL Financial LLC acquired a new position in IRIDEX in the 2nd quarter worth $82,000. Renaissance Technologies LLC lifted its holdings in IRIDEX by 2.9% in the 2nd quarter. Renaissance Technologies LLC now owns 385,862 shares of the medical equipment provider’s stock worth $1,756,000 after buying an additional 10,808 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in IRIDEX by 119.2% in the 2nd quarter. Vanguard Group Inc. now owns 749,545 shares of the medical equipment provider’s stock worth $3,410,000 after buying an additional 407,600 shares in the last quarter. Hedge funds and other institutional investors own 46.16% of the company’s stock.
IRIX stock traded down $0.01 during midday trading on Monday, hitting $2.02. The stock had a trading volume of 45,300 shares, compared to its average volume of 49,762. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.36 and a quick ratio of 2.49. The firm has a market cap of $27.84 million, a PE ratio of -1.92 and a beta of 0.80. The company’s 50-day moving average price is $1.89 and its 200 day moving average price is $3.38. IRIDEX has a 12-month low of $1.50 and a 12-month high of $5.69.
IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, November 7th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The business had revenue of $10.66 million for the quarter, compared to analyst estimates of $10.08 million. IRIDEX had a negative net margin of 23.42% and a negative return on equity of 37.78%. As a group, sell-side analysts anticipate that IRIDEX will post -0.73 EPS for the current year.
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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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