Equities research analysts forecast that IRIDEX Co. (NASDAQ:IRIX) will post ($0.22) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for IRIDEX’s earnings. IRIDEX reported earnings of ($0.28) per share in the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The business is expected to report its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that IRIDEX will report full-year earnings of ($0.82) per share for the current year, with EPS estimates ranging from ($0.85) to ($0.79). For the next year, analysts expect that the company will post earnings of ($0.47) per share, with EPS estimates ranging from ($0.50) to ($0.44). Zacks’ EPS averages are an average based on a survey of research firms that cover IRIDEX.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. IRIDEX had a negative return on equity of 42.85% and a negative net margin of 28.06%. The business had revenue of $10.60 million during the quarter, compared to analysts’ expectations of $10.46 million.

A number of brokerages have commented on IRIX. Zacks Investment Research raised IRIDEX from a “sell” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Wednesday, May 8th. Roth Capital reissued a “buy” rating on shares of IRIDEX in a research note on Tuesday, February 5th.

A number of institutional investors have recently made changes to their positions in IRIX. Renaissance Technologies LLC grew its stake in IRIDEX by 4.4% in the third quarter. Renaissance Technologies LLC now owns 335,500 shares of the medical equipment provider’s stock valued at $2,130,000 after acquiring an additional 14,100 shares during the period. Vanguard Group Inc. lifted its holdings in shares of IRIDEX by 2.8% in the third 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. Vanguard Group Inc lifted its holdings in shares of IRIDEX by 2.8% in the third 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. Neuberger Berman Group LLC lifted its holdings in shares of IRIDEX by 60.0% in the third quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Isthmus Partners LLC lifted its holdings in shares of IRIDEX by 29.6% in the fourth quarter. Isthmus Partners LLC now owns 127,298 shares of the medical equipment provider’s stock valued at $598,000 after purchasing an additional 29,059 shares in the last quarter. 44.23% of the stock is owned by hedge funds and other institutional investors.

IRIDEX stock traded up $0.04 during mid-day trading on Tuesday, reaching $5.02. The stock had a trading volume of 4,758 shares, compared to its average volume of 11,925. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.78 and a current ratio of 3.63. IRIDEX has a fifty-two week low of $3.72 and a fifty-two week high of $9.48. The stock has a market capitalization of $69.38 million, a PE ratio of -4.78 and a beta of 1.05.

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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