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

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

IRIDEX Price Performance

Shares of IRIX opened at $1.10 on Monday. The firm has a market capitalization of $18.47 million, a PE ratio of -1.64 and a beta of 0.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. IRIDEX has a 1-year low of $0.78 and a 1-year high of $3.24. The company’s fifty day moving average price is $1.04 and its 200-day moving average price is $1.43.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.10) EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $12.10 million.

Insider Buying and Selling at IRIDEX

In other IRIDEX news, Director Beverly A. Huss purchased 25,900 shares of the stock in a transaction on Wednesday, April 23rd. The shares were bought 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 in the company, valued at $113,019.58. This trade represents a 38.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have acquired 38,639 shares of company stock valued at $47,607. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd grew its position in IRIDEX Co. (NASDAQ:IRIX) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 518,541 shares of the medical equipment provider’s stock after acquiring an additional 17,420 shares during the period. AMH Equity Ltd owned about 3.09% of IRIDEX worth $513,000 at the end of the most recent quarter. 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.