-$0.25 EPS Expected for IRIDEX Co. (IRIX) This Quarter

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Wall Street analysts expect IRIDEX Co. (NASDAQ:IRIX) to report earnings of ($0.25) per share for the current quarter, Zacks reports. Two analysts have issued estimates for IRIDEX’s earnings. The highest EPS estimate is ($0.24) and the lowest is ($0.25). IRIDEX posted earnings of ($0.44) per share in the same quarter last year, which would suggest a positive year over year growth rate of 43.2%. The firm is expected to announce its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that IRIDEX will report full-year earnings of ($1.09) per share for the current year, with EPS estimates ranging from ($1.09) to ($1.08). For the next fiscal year, analysts forecast that the company will report earnings of ($0.73) per share, with EPS estimates ranging from ($0.76) to ($0.70). Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for IRIDEX.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, November 1st. The medical equipment provider reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The firm had revenue of $11.32 million during the quarter, compared to the consensus estimate of $9.64 million. IRIDEX had a negative return on equity of 52.65% and a negative net margin of 36.52%.

A number of analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on IRIDEX in a research report on Friday, October 26th. They issued a “buy” rating and a $9.00 price target for the company. Roth Capital restated a “buy” rating and issued a $10.00 price target on shares of IRIDEX in a research report on Friday, October 12th. ValuEngine upgraded IRIDEX from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, Zacks Investment Research downgraded IRIDEX from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th.

IRIX traded down $0.05 during trading on Friday, reaching $4.79. The company had a trading volume of 29,200 shares, compared to its average volume of 16,269. The company has a market cap of $67.43 million, a PE ratio of -4.32 and a beta of 1.27. IRIDEX has a 52 week low of $3.72 and a 52 week high of $9.48.

In other IRIDEX news, Chairman William M. Moore bought 10,000 shares of IRIDEX stock in a transaction on Wednesday, December 12th. The shares were acquired at an average price of $4.34 per share, for a total transaction of $43,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Earle Grove bought 10,857 shares of IRIDEX stock in a transaction on Wednesday, December 12th. The stock was acquired at an average price of $4.23 per share, for a total transaction of $45,925.11. Following the purchase, the director now owns 2,500 shares of the company’s stock, valued at $10,575. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 33,357 shares of company stock worth $146,850. Insiders own 4.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Wasatch Advisors Inc. purchased a new position in shares of IRIDEX during the third quarter valued at $8,442,000. Eidelman Virant Capital increased its stake in shares of IRIDEX by 35.7% during the third quarter. Eidelman Virant Capital now owns 152,193 shares of the medical equipment provider’s stock valued at $966,000 after buying an additional 40,000 shares during the period. Perkins Capital Management Inc. increased its stake in shares of IRIDEX by 216.8% during the third quarter. Perkins Capital Management Inc. now owns 227,950 shares of the medical equipment provider’s stock valued at $1,447,000 after buying an additional 156,000 shares during the period. BlackRock Inc. increased its stake in shares of IRIDEX by 29.2% during the second quarter. BlackRock Inc. now owns 35,807 shares of the medical equipment provider’s stock valued at $249,000 after buying an additional 8,083 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of IRIDEX by 60.0% during the third quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 9,000 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.

About IRIDEX

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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