IRIDEX (NASDAQ:IRIX) Issues Earnings Results

IRIDEX (NASDAQ:IRIX) released its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Zacks reports. IRIDEX had a negative return on equity of 386.93% and a negative net margin of 10.95%.The business had revenue of $12.48 million during the quarter, compared to the consensus estimate of $13.10 million.

IRIDEX Price Performance

Shares of IRIDEX stock traded down $0.07 during trading on Thursday, hitting $0.89. The stock had a trading volume of 182,063 shares, compared to its average volume of 87,597. The business has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.13. IRIDEX has a fifty-two week low of $0.78 and a fifty-two week high of $1.95. The firm has a market cap of $15.04 million, a P/E ratio of -2.68 and a beta of 0.56. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.96 and a quick ratio of 1.34.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IRIDEX in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

About IRIDEX

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. It 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 retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.