IRIDEX Co. (IRIX) Expected to Announce Earnings of -$0.22 Per Share

Zacks Investment Research’s earnings per share calculations are an … Quantum Capital Management grew its position in shares of IRIDEX by 83.2% …

IRIDEX logoBrokerages expect IRIDEX Co. (NASDAQ:IRIX) to post ($0.22) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for IRIDEX’s earnings. IRIDEX posted earnings per share of ($0.28) during the same quarter last year, which indicates a positive year over year growth rate of 21.4%. The company is expected to report its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that IRIDEX will report full year earnings of ($0.82) per share for the current year, with EPS estimates ranging from ($0.85) to ($0.79). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.47) per share, with EPS estimates ranging from ($0.50) to ($0.44). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover IRIDEX.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The company had revenue of $10.60 million during the quarter, compared to the consensus estimate of $10.46 million. IRIDEX had a negative net margin of 28.06% and a negative return on equity of 42.27%.

IRIX has been the subject of several recent research reports. Roth Capital reissued a “buy” rating on shares of IRIDEX in a research report on Tuesday, February 5th. Zacks Investment Research downgraded shares of IRIDEX from a “hold” rating to a “sell” rating in a research report on Friday, March 8th.

Hedge funds have recently modified their holdings of the business. Gabelli Funds LLC bought a new stake in IRIDEX in the 1st quarter worth about $46,000. Stifel Financial Corp bought a new stake in IRIDEX in the 4th quarter worth about $66,000. Neuberger Berman Group LLC grew its position in shares of IRIDEX by 60.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 24,000 shares of the medical equipment provider’s stock valued at $152,000 after acquiring an additional 9,000 shares during the period. Quantum Capital Management grew its position in shares of IRIDEX by 83.2% during the 4th quarter. Quantum Capital Management now owns 28,829 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 13,089 shares during the period. Finally, FineMark National Bank & Trust grew its position in shares of IRIDEX by 27.5% during the 1st quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock valued at $180,000 after acquiring an additional 8,500 shares during the period. 44.23% of the stock is owned by institutional investors and hedge funds.

NASDAQ:IRIX opened at $5.24 on Tuesday. The stock has a market cap of $69.53 million, a PE ratio of -4.99 and a beta of 1.05. IRIDEX has a one year low of $3.72 and a one year high of $9.48.

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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