Brokerages Anticipate IRIDEX Co. (IRIX) Will Post Quarterly Sales of $10.94 Million

Analysts expect IRIDEX Co. (NASDAQ:IRIX) to announce sales of $10.94 million for the current quarter, according to Zacks. Two analysts have made estimates for IRIDEX’s earnings, with the highest sales estimate coming in at $11.08 million and the lowest estimate coming in at $10.80 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 business is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, 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 fiscal year, analysts anticipate that the company will post sales of $50.77 million, with estimates ranging from $50.20 million to $51.34 million. Zacks’ sales calculations are an average based on a survey of analysts that follow IRIDEX.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. IRIDEX had a negative net margin of 28.06% and a negative return on equity of 42.85%. The firm had revenue of $10.60 million during the quarter, compared to analysts’ expectations of $10.46 million.

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

NASDAQ:IRIX opened at $4.93 on Friday. The company has a market cap of $67.76 million, a P/E ratio of -4.70 and a beta of 0.96. IRIDEX has a 52 week low of $3.72 and a 52 week high of $9.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.63 and a quick ratio of 2.73.

A number of hedge funds and other institutional investors have recently modified their holdings of IRIX. Gabelli Funds LLC purchased a new position in IRIDEX in the 1st quarter valued at about $46,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of IRIDEX during the first quarter worth approximately $47,000. Stifel Financial Corp acquired a new stake in shares of IRIDEX during the fourth quarter worth approximately $66,000. Quantum Capital Management grew its position in shares of IRIDEX by 83.2% during the fourth quarter. Quantum Capital Management now owns 28,829 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 13,089 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its holdings in IRIDEX by 27.5% in the first quarter. FineMark National Bank & Trust now owns 39,365 shares of the medical equipment provider’s stock worth $180,000 after purchasing an additional 8,500 shares during the period. 43.47% of the stock is currently owned by hedge funds and other institutional investors.

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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