Brokerages Expect IRIDEX Co. (IRIX) to Post ($0.22) Earnings Per Share

Shares of IRIDEX Co. (NASDAQ:IRIX) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts 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 objective 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 71 out of 256 based on the ratings given to related companies.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded IRIDEX from a “sell” rating to a “buy” rating and set a $5.75 price target for the company in a report on Wednesday, May 8th. Roth Capital reiterated a “buy” rating on shares of IRIDEX in a report on Tuesday, February 5th.

IRIX stock opened at $5.20 on Monday. IRIDEX has a 1 year low of $3.72 and a 1 year high of $9.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.78 and a current ratio of 3.63. The company has a market capitalization of $70.88 million, a P/E ratio of -4.95 and a beta of 1.05.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. IRIDEX had a negative return on equity of 42.85% and a negative net margin of 28.06%. The firm had revenue of $10.60 million for the quarter, compared to analyst estimates of $10.46 million. Analysts expect that IRIDEX will post -0.82 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Gabelli Funds LLC acquired a new position in IRIDEX in the 1st quarter valued at $46,000. Stifel Financial Corp acquired a new position in IRIDEX in the 4th quarter valued at $66,000. Neuberger Berman Group LLC raised its holdings in IRIDEX by 60.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after acquiring an additional 9,000 shares during the last quarter. Quantum Capital Management raised its holdings in IRIDEX by 83.2% in the 4th quarter. Quantum Capital Management now owns 28,829 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 13,089 shares during the last quarter. Finally, FineMark National Bank & Trust raised its holdings in IRIDEX by 27.5% in the 1st quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after acquiring an additional 8,500 shares during the last quarter. Institutional investors own 44.23% 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. 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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