Stock analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX – Get Rating) in a note issued to investors on Monday. The brokerage set a “buy” rating on the medical equipment provider’s stock.
IRIDEX Stock Down 8.8 %
Shares of IRIX opened at $2.06 on Monday. IRIDEX has a 52-week low of $1.96 and a 52-week high of $5.39. The company has a market capitalization of $32.93 million, a PE ratio of -4.38 and a beta of 1.26. The stock has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.29.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Isthmus Partners LLC raised its stake in shares of IRIDEX by 5.0% in the 4th quarter. Isthmus Partners LLC now owns 333,792 shares of the medical equipment provider’s stock valued at $671,000 after acquiring an additional 16,033 shares during the period. Paragon Associates & Paragon Associates II Joint Venture increased its stake in IRIDEX by 42.1% during the 3rd quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 799,385 shares of the medical equipment provider’s stock worth $1,927,000 after buying an additional 236,715 shares during the period. Mackenzie Financial Corp increased its stake in IRIDEX by 36.7% during the 2nd quarter. Mackenzie Financial Corp now owns 16,462 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 4,418 shares during the period. State Street Corp increased its stake in IRIDEX by 9.7% during the 1st quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 3,956 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in IRIDEX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after buying an additional 9,361 shares during the period. Institutional investors and hedge funds own 28.63% of the company’s stock.
About IRIDEX
IRIDEX Corp. engages in developing, manufacturing, and marketing medical systems, delivery devices, and consumable instrumentation for the ophthalmology market. Its products include lasers, laser delivery and glaucoma devices, retinal surgical instruments, veterinary, and ENT. The company was founded by Eduardo Arias, Theodore A.
Further Reading
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