Several analysts have recently updated their ratings and price targets for IRIDEX (NASDAQ: IRIX):

  • 4/10/2019 – IRIDEX was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
  • 4/2/2019 – IRIDEX was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
  • 3/27/2019 – IRIDEX was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
  • 3/21/2019 – IRIDEX was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
  • 3/8/2019 – IRIDEX was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “

Shares of IRIDEX stock opened at $4.50 on Wednesday. IRIDEX Co. has a fifty-two week low of $3.72 and a fifty-two week high of $9.48. The firm has a market cap of $60.65 million, a price-to-earnings ratio of -4.29 and a beta of 1.03.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings data on Tuesday, March 5th. The medical equipment provider reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. IRIDEX had a negative return on equity of 44.86% and a negative net margin of 30.08%. As a group, sell-side analysts expect that IRIDEX Co. will post -0.83 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in IRIDEX in the 4th quarter valued at $306,000. Vanguard Group Inc. increased its holdings in IRIDEX by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 403,547 shares of the medical equipment provider’s stock valued at $2,563,000 after purchasing an additional 11,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in IRIDEX by 4.4% in the 3rd quarter. Renaissance Technologies LLC now owns 335,500 shares of the medical equipment provider’s stock valued at $2,130,000 after purchasing an additional 14,100 shares in the last quarter. Vanguard Group Inc increased its holdings in IRIDEX by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 403,547 shares of the medical equipment provider’s stock valued at $2,563,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Quantum Capital Management increased 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 purchasing an additional 13,089 shares in the last quarter. Institutional investors and hedge funds own 45.26% of the company’s stock.

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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