Brokerages expect IRIDEX Co. (NASDAQ:IRIX) to post $10.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for IRIDEX’s earnings, with the lowest sales estimate coming in at $10.80 million and the highest estimate coming in at $11.08 million. IRIDEX reported sales of $10.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that IRIDEX will report full year sales of $45.02 million for the current year, with estimates ranging from $44.94 million to $45.10 million. For the next year, analysts anticipate that the business will post sales of $50.77 million, with estimates ranging from $50.20 million to $51.34 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for IRIDEX.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $10.60 million during the quarter, compared to analysts’ expectations of $10.46 million. IRIDEX had a negative return on equity of 42.85% and a negative net margin of 28.06%.

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

A number of large investors have recently made changes to their positions in IRIX. Gabelli Funds LLC bought a new position in IRIDEX in the first quarter worth approximately $46,000. Stifel Financial Corp bought a new position in shares of IRIDEX in the fourth quarter valued at approximately $66,000. Quantum Capital Management lifted its holdings in shares of IRIDEX by 83.2% in the fourth quarter. Quantum Capital Management now owns 28,829 shares of the medical equipment provider’s stock valued at $135,000 after purchasing an additional 13,089 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of IRIDEX by 60.0% in the third quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 9,000 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its holdings in shares of IRIDEX by 27.5% in the first quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after purchasing an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 44.23% of the company’s stock.

NASDAQ:IRIX traded up $0.04 on Thursday, hitting $5.02. The stock had a trading volume of 4,758 shares, compared to its average volume of 11,925. The firm has a market cap of $69.38 million, a P/E ratio of -4.78 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.78 and a current ratio of 3.63. IRIDEX has a 52 week low of $3.72 and a 52 week high of $9.48.

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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