IRIDEX (NASDAQ:IRIX – Get Free Report) released its quarterly earnings data on Tuesday. The medical equipment provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04, FiscalAI reports. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $11.91 million. IRIDEX had a negative return on equity of 1,204.74% and a negative net margin of 8.42%.
IRIDEX Trading Up 3.4%
IRIX traded up $0.04 during trading on Tuesday, hitting $1.05. The stock had a trading volume of 136,270 shares, compared to its average volume of 202,122. The firm has a market cap of $18.26 million, a PE ratio of -4.04 and a beta of 0.64. IRIDEX has a 12 month low of $0.87 and a 12 month high of $1.65. The company has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.17.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Alliance Global Partners initiated coverage on shares of IRIDEX in a research note on Thursday, February 5th. They set a “buy” rating on the stock. iA Financial set a $3.00 price objective on shares of IRIDEX in a research note on Thursday, February 5th. Finally, Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.
Institutional Investors Weigh In On IRIDEX
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in shares of IRIDEX by 62.7% in the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 42,202 shares during the period. Susquehanna International Group LLP lifted its position in shares of IRIDEX by 46.2% in the 3rd quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 17,834 shares during the period. Apexium Financial LP lifted its position in IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 34,834 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of IRIDEX by 93.9% in the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 15,377 shares in the last quarter. 20.10% of the stock is owned by institutional investors and hedge funds.
About IRIDEX
IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.
The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.
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