Shares of IRIDEX Co. (NASDAQ:IRIX) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus price target of $8.00 for the company and are anticipating that the company will post ($0.22) earnings per share for the current quarter, according to Zacks. Zacks has also assigned IRIDEX an industry rank of 106 out of 256 based on the ratings given to related companies.
IRIX has been the subject of a number of research reports. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of IRIDEX by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 207,148 shares of the medical equipment provider’s stock valued at $974,000 after buying an additional 7,404 shares during the last quarter. BlackRock Inc. raised its holdings in shares of IRIDEX by 117.9% during the fourth quarter. BlackRock Inc. now owns 81,249 shares of the medical equipment provider’s stock valued at $382,000 after buying an additional 43,962 shares during the last quarter. FineMark National Bank & Trust raised its holdings in shares of IRIDEX by 27.5% during the first quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after buying an additional 8,500 shares during the last quarter. Stifel Financial Corp bought a new stake in IRIDEX during the fourth quarter worth approximately $66,000. Finally, Gabelli Funds LLC bought a new stake in IRIDEX during the first quarter worth approximately $46,000. 43.47% of the stock is currently owned by institutional investors.
IRIX stock opened at $3.57 on Friday. The company has a quick ratio of 2.73, a current ratio of 3.63 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $48.70 million, a PE ratio of -3.40 and a beta of 0.85. The business’s fifty day simple moving average is $4.48. IRIDEX has a 52-week low of $3.50 and a 52-week high of $9.48.
IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The business had revenue of $10.60 million during the quarter, compared to the consensus estimate of $10.46 million. IRIDEX had a negative return on equity of 42.85% and a negative net margin of 28.06%. As a group, sell-side analysts forecast that IRIDEX will post -0.82 EPS for the current year.
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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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