Wall Street brokerages expect IRIDEX Co. (NASDAQ:IRIX) to announce sales of $10.94 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for IRIDEX’s earnings, with the lowest sales estimate coming in at $10.80 million and the highest estimate coming in at $11.08 million. IRIDEX posted sales of $10.30 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The company is expected to issue its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that IRIDEX will report full-year sales of $45.02 million for the current financial year, with estimates ranging from $44.94 million to $45.10 million. For the next financial year, analysts forecast that the firm will post sales of $50.77 million, with estimates ranging from $50.20 million to $51.34 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow IRIDEX.
IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. IRIDEX had a negative net margin of 28.06% and a negative return on equity of 42.27%. The firm had revenue of $10.60 million for the quarter, compared to analyst estimates of $10.46 million.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of IRIDEX from a “sell” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Wednesday. Roth Capital reaffirmed a “buy” rating on shares of IRIDEX in a research report on Tuesday, February 5th.
NASDAQ IRIX opened at $5.10 on Thursday. IRIDEX has a 1 year low of $3.72 and a 1 year high of $9.48. The firm has a market cap of $69.53 million, a price-to-earnings ratio of -4.86 and a beta of 1.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of IRIX. Alambic Investment Management L.P. bought a new stake in IRIDEX during the fourth quarter worth $315,000. Essex Investment Management Co. LLC bought a new position in shares of IRIDEX in the fourth quarter valued at about $306,000. BlackRock Inc. raised its position in shares of IRIDEX by 117.9% in the fourth quarter. BlackRock Inc. now owns 81,249 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 43,962 shares during the period. Isthmus Partners LLC raised its position in shares of IRIDEX by 29.6% in the fourth quarter. Isthmus Partners LLC now owns 127,298 shares of the medical equipment provider’s stock valued at $598,000 after purchasing an additional 29,059 shares during the period. Finally, Stifel Financial Corp bought a new position in shares of IRIDEX in the fourth quarter valued at about $66,000. 44.23% of the stock is currently owned by hedge funds and other institutional investors.
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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