Begins Coverage on IRIDEX (NASDAQ:IRIX) began coverage on shares of IRIDEX (NASDAQ:IRIXFree Report) in a research report report published on Monday. The brokerage issued a hold rating on the medical equipment provider’s stock.

Separately, Stifel Nicolaus reiterated a hold rating and set a $2.00 target price on shares of IRIDEX in a report on Wednesday, May 15th.

Check Out Our Latest Analysis on IRIX

IRIDEX Price Performance

NASDAQ IRIX opened at $2.59 on Monday. The stock has a market capitalization of $42.09 million, a PE ratio of -3.87 and a beta of 0.82. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The business’s 50-day moving average is $2.88 and its 200 day moving average is $2.70.

IRIDEX (NASDAQ:IRIXGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. The company had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same quarter last year, the business earned ($0.13) earnings per share. As a group, equities research analysts anticipate that IRIDEX will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd increased its position in IRIDEX Co. (NASDAQ:IRIXFree Report) by 92.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the period. IRIDEX comprises approximately 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th largest position. AMH Equity Ltd owned approximately 3.93% of IRIDEX worth $1,618,000 at the end of the most recent quarter. 20.10% of the stock is owned by institutional investors and hedge funds.

IRIDEX Company Profile

(Get Free Report)

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.

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