IRIDEX (NASDAQ:IRIX) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

IRIDEX (NASDAQ:IRIX) issued its quarterly earnings data on Tuesday. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06), Zacks reports.

IRIDEX Trading Up 5.7%

IRIDEX stock traded up $0.05 on Tuesday, hitting $0.93. 239,910 shares of the stock traded hands, compared to its average volume of 145,475. The firm has a market cap of $16.19 million, a P/E ratio of -4.90 and a beta of 0.66. The business’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.13. IRIDEX has a 1 year low of $0.80 and a 1 year high of $1.65.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in IRIDEX by 93.9% in the fourth quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 15,377 shares during the period. Apexium Financial LP lifted its holdings in shares of IRIDEX by 53.0% during the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock valued at $116,000 after purchasing an additional 34,834 shares during the last quarter. Susquehanna International Group LLP lifted its holdings in shares of IRIDEX by 46.2% during the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 17,834 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of IRIDEX by 62.7% in the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 42,202 shares in the last quarter. 20.10% of the stock is owned by hedge funds and other institutional investors.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.

The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.