IRIDEX Co. (NASDAQ:IRIX) Expected to Post Earnings of -$0.16 Per Share

Equities research analysts forecast that IRIDEX Co. (NASDAQ:IRIXGet Rating) will report earnings per share (EPS) of ($0.16) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for IRIDEX’s earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.14). IRIDEX posted earnings per share of ($0.09) during the same quarter last year, which suggests a negative year over year growth rate of 77.8%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that IRIDEX will report full-year earnings of ($0.50) per share for the current fiscal year, with EPS estimates ranging from ($0.54) to ($0.45). For the next financial year, analysts forecast that the company will report earnings of ($0.25) per share, with EPS estimates ranging from ($0.34) to ($0.15). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover IRIDEX.

IRIDEX (NASDAQ:IRIXGet Rating) last posted its quarterly earnings data on Thursday, March 10th. The medical equipment provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). IRIDEX had a negative return on equity of 35.55% and a negative net margin of 10.13%. The firm had revenue of $15.25 million during the quarter, compared to analysts’ expectations of $15.18 million. During the same period last year, the company earned ($0.01) earnings per share.

Several analysts have recently weighed in on the stock. StockNews.com began coverage on shares of IRIDEX in a research note on Friday. They set a “buy” rating for the company. Zacks Investment Research raised IRIDEX from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 11th.

IRIX stock traded down $0.42 during midday trading on Tuesday, reaching $2.88. The company’s stock had a trading volume of 115,445 shares, compared to its average volume of 33,775. IRIDEX has a 1 year low of $2.88 and a 1 year high of $9.46. The firm has a market capitalization of $45.76 million, a price-to-earnings ratio of -8.23 and a beta of 1.23. The stock has a fifty day simple moving average of $4.14 and a two-hundred day simple moving average of $5.35.

A number of large investors have recently made changes to their positions in the stock. Long Focus Capital Management LLC acquired a new position in IRIDEX during the 4th quarter valued at approximately $611,000. Essex Investment Management Co. LLC increased its position in shares of IRIDEX by 39.7% in the 1st quarter. Essex Investment Management Co. LLC now owns 306,993 shares of the medical equipment provider’s stock valued at $1,421,000 after acquiring an additional 87,240 shares during the period. Millennium Management LLC purchased a new position in IRIDEX in the 2nd quarter worth $378,000. Bank of New York Mellon Corp acquired a new stake in IRIDEX during the 3rd quarter worth about $266,000. Finally, Dimensional Fund Advisors LP lifted its position in IRIDEX by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 231,368 shares of the medical equipment provider’s stock worth $1,414,000 after acquiring an additional 28,835 shares during the period. 22.10% of the stock is currently owned by institutional investors.

IRIDEX Company Profile (Get Rating)

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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