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Shares of IRIDEX Co. (NASDAQ:IRIX) gapped down prior to trading on Tuesday . The stock had previously closed at $2.51, but opened at $2.19. IRIDEX shares last traded at $2.18, with a volume of 2,100 shares changing hands.

A number of research firms have commented on IRIX. ValuEngine raised shares of IRIDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut IRIDEX from a “hold” rating to a “sell” rating in a research note on Tuesday.

The company’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.77 and a quick ratio of 2.01. The stock has a market cap of $31.27 million, a P/E ratio of -3.96 and a beta of 1.09.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Monday, November 9th. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. IRIDEX had a negative return on equity of 38.60% and a negative net margin of 21.54%. The company had revenue of $8.80 million during the quarter, compared to the consensus estimate of $7.79 million. On average, equities research analysts predict that IRIDEX Co. will post -0.56 earnings per share for the current year.

A hedge fund recently raised its stake in IRIDEX stock. Isthmus Partners LLC lifted its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,582 shares of the medical equipment provider’s stock after acquiring an additional 10,913 shares during the period. Isthmus Partners LLC owned approximately 1.64% of IRIDEX worth $446,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 32.32% of the company’s stock.

IRIDEX Company Profile (NASDAQ:IRIX)

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 photocoagulation 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 photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

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