IRIDEX Corporation (NASDAQ:IRIX – Get Free Report) major shareholder Shih-Yao David Lin bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $1.52 per share, for a total transaction of $30,400.00. Following the acquisition, the insider owned 725,461 shares of the company’s stock, valued at $1,102,700.72. This trade represents a 2.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
IRIDEX Price Performance
NASDAQ IRIX opened at $0.89 on Friday. The stock has a market capitalization of $15.64 million, a P/E ratio of -4.45 and a beta of 0.67. IRIDEX Corporation has a one year low of $0.61 and a one year high of $1.65. The business has a 50 day simple moving average of $0.73 and a 200 day simple moving average of $0.95.
IRIDEX (NASDAQ:IRIX – Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $12.57 million for the quarter, compared to the consensus estimate of $13.59 million. Equities analysts expect that IRIDEX Corporation will post -0.12 earnings per share for the current year.
Institutional Trading of IRIDEX
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.00.
Get Our Latest Stock Report on IRIDEX
About IRIDEX
IRIDEX Corporation (NASDAQ: IRIX) develops and sells ophthalmic laser systems and related delivery devices used in the treatment of eye diseases. Its products are designed primarily for ophthalmologists treating glaucoma and retinal disorders, including diabetic retinopathy and other conditions affecting the retina.
The company’s portfolio includes laser systems such as the Cyclo G6 glaucoma laser platform and the IQ series of retinal photocoagulation lasers. IRIDEX also offers specialized probes and other delivery devices, including MicroPulse and transscleral cyclophotocoagulation technologies, which are intended to provide targeted treatment while limiting exposure to surrounding tissue.
Founded in 1989 and headquartered in Mountain View, California, IRIDEX serves eye-care professionals through a combination of direct sales and distributor relationships in the United States and international markets.
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