IRIDEX (NASDAQ:IRIX) Coverage Initiated by Analysts at StockNews.com

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

IRIDEX Stock Performance

Shares of IRIX stock opened at $1.30 on Friday. The stock has a market cap of $21.83 million, a PE ratio of -1.94 and a beta of 0.74. The business has a 50-day simple moving average of $1.09 and a 200-day simple moving average of $1.46. The company has a quick ratio of 0.85, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. IRIDEX has a 52-week low of $0.78 and a 52-week high of $3.25.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $12.70 million during the quarter, compared to analysts’ expectations of $12.80 million. IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%.

Insider Activity

In related news, Director Beverly A. Huss acquired 25,900 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was acquired at an average price of $1.22 per share, with a total value of $31,598.00. Following the acquisition, the director now directly owns 92,639 shares in the company, valued at $113,019.58. This represents a 38.81 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 38,046 shares of company stock valued at $46,916 in the last quarter. 7.30% of the stock is currently owned by company insiders.

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.