IRIDEX Co. (NASDAQ:IRIX) insider Associates & Paragon A. Paragon purchased 70,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $420,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ:IRIX traded down $0.22 during trading hours on Friday, hitting $5.00. 59,725 shares of the stock traded hands, compared to its average volume of 22,489. IRIDEX Co. has a fifty-two week low of $4.28 and a fifty-two week high of $9.65. The company has a market cap of $74.07 million, a P/E ratio of -4.50 and a beta of 1.68.

IRIDEX (NASDAQ:IRIX) last announced its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. IRIDEX had a negative net margin of 36.98% and a negative return on equity of 51.61%. The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.21 million. Analysts expect that IRIDEX Co. will post -1.14 EPS for the current year.

Large investors have recently made changes to their positions in the business. First Light Asset Management LLC grew its holdings in shares of IRIDEX by 22.0% during the 1st quarter. First Light Asset Management LLC now owns 387,687 shares of the medical equipment provider’s stock valued at $2,218,000 after acquiring an additional 69,888 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of IRIDEX by 9.9% during the 2nd quarter. Renaissance Technologies LLC now owns 321,400 shares of the medical equipment provider’s stock valued at $2,237,000 after acquiring an additional 28,900 shares in the last quarter. Eidelman Virant Capital purchased a new position in shares of IRIDEX during the 2nd quarter valued at $760,000. Isthmus Partners LLC grew its holdings in shares of IRIDEX by 10.0% during the 1st quarter. Isthmus Partners LLC now owns 88,464 shares of the medical equipment provider’s stock valued at $506,000 after acquiring an additional 8,056 shares in the last quarter. Finally, Perkins Capital Management Inc. grew its holdings in shares of IRIDEX by 23.1% during the 2nd quarter. Perkins Capital Management Inc. now owns 71,950 shares of the medical equipment provider’s stock valued at $501,000 after acquiring an additional 13,500 shares in the last quarter. 47.53% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on the company. Zacks Investment Research raised IRIDEX from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Thursday, August 9th. Roth Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of IRIDEX in a report on Friday.

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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