IRIDEX Co. (NASDAQ:IRIX) Insider Purchases $420,000.00 in Stock
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.
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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