IRIDEX (NASDAQ:IRIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, May 10th.
According to Zacks, “IRIDEX Corporation is the leading worldwide provider of semiconductor-based laser systems used to treat eye diseases in ophthalmology and skin lesions in dermatology. The products are sold in the United States predominantly through a direct sales force and internationally through independent distributors. The company markets the products using three brand names: IRIS Medical to the ophthalmology market, IRIDERM to the dermatology market, and Light Solutions to the research market. “
Shares of IRIDEX opened at $7.00 on Thursday, MarketBeat Ratings reports. The stock has a market cap of $79.49 million, a PE ratio of -6.31 and a beta of 1.38. IRIDEX has a 52-week low of $4.28 and a 52-week high of $10.98.
Hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in IRIDEX by 31.6% in the 4th quarter. Deutsche Bank AG now owns 35,430 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 8,509 shares in the last quarter. Blair William & Co. IL acquired a new stake in IRIDEX in the 1st quarter valued at $249,000. Isthmus Partners LLC boosted its stake in IRIDEX by 10.0% in the 1st quarter. Isthmus Partners LLC now owns 88,464 shares of the medical equipment provider’s stock valued at $506,000 after buying an additional 8,056 shares in the last quarter. Renaissance Technologies LLC boosted its stake in IRIDEX by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 272,900 shares of the medical equipment provider’s stock valued at $2,079,000 after buying an additional 31,000 shares in the last quarter. Finally, First Light Asset Management LLC boosted its stake in IRIDEX by 22.0% in the 1st quarter. First Light Asset Management LLC now owns 387,687 shares of the medical equipment provider’s stock valued at $2,218,000 after buying an additional 69,888 shares in the last quarter. 48.09% of the stock is currently owned by institutional investors and hedge funds.
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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