Second Sight Medical Products (NASDAQ:EYES) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Second Sight Medical Products (NASDAQ:EYES) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “

NASDAQ:EYES opened at $0.81 on Tuesday. The firm’s 50-day moving average price is $0.82 and its 200-day moving average price is $0.83. The company has a market capitalization of $98.43 million, a PE ratio of -1.56 and a beta of 2.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.58 and a quick ratio of 3.39. Second Sight Medical Products has a 1-year low of $0.63 and a 1-year high of $1.77.

Second Sight Medical Products (NASDAQ:EYES) last released its earnings results on Tuesday, August 6th. The medical device company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). Second Sight Medical Products had a negative return on equity of 248.94% and a negative net margin of 553.01%. The business had revenue of $1.28 million during the quarter, compared to analysts’ expectations of $0.45 million. Equities analysts anticipate that Second Sight Medical Products will post -0.29 EPS for the current fiscal year.

About Second Sight Medical Products

Second Sight Medical Products, Inc develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury.

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