Stock On Watch: Iridex Corp (NASDAQ:IRIX) Stock Price Up as Sentiment Improves

November 16, 2016 - By Marguerite Chambers   ·   0 Comments

Stock On Watch: Iridex Corp (NASDAQ:IRIX) Stock Price Up as Sentiment  Improves

Sentiment for Iridex Corp (NASDAQ:IRIX)

Iridex Corp (NASDAQ:IRIX) institutional sentiment increased to 5.14 in 2016 Q2. Its up 4.32, from 0.82 in 2016Q1. The ratio has improved, as 36 hedge funds opened new or increased stock positions, while 7 decreased and sold their positions in Iridex Corp. The hedge funds in our partner’s database now have: 8.59 million shares, up from 3.11 million shares in 2016Q1. Also, the number of hedge funds holding Iridex Corp in their top 10 stock positions was flat from 2 to 2 for the same number . Sold All: 6 Reduced: 1 Increased: 14 New Position: 22.

IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The company has a market cap of $163.69 million. The Firm operates through ophthalmology segment. It currently has negative earnings. The Company’s ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration .

About 2,542 shares traded hands. IRIDEX Corporation (NASDAQ:IRIX) has risen 57.24% since April 14, 2016 and is uptrending. It has outperformed by 52.55% the S&P500.

According to Zacks Investment Research, “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.”

Paragon Associates & Paragon Associates Ii Joint Venture holds 18.1% of its portfolio in IRIDEX Corporation for 1.25 million shares. Acuta Capital Partners Llc owns 1.01 million shares or 7.19% of their US portfolio. Moreover, Perkins Capital Management Inc has 1.37% invested in the company for 80,800 shares. The Connecticut-based Manatuck Hill Partners Llc has invested 0.59% in the stock. Thompson Davis & Co. Inc., a Virginia-based fund reported 17,550 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 7 insider sales for $315,710 net activity.

IRIX Company Profile

IRIDEX Corporation, incorporated on November 21, 1995, is a well-known provider of therapeutic laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Firm operates through ophthalmology segment. The Company’s ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD). In addition, the Company’s ophthalmology products are often used in vitrectomy procedures (used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments), which are generally performed in the operating room and require a consumable single use intraocular laser probe (EndoProbe) to deliver light to the back of the eye together with other instrumentation. The Company’s ophthalmology products are sold in the United States through a direct sales force and internationally through approximately 70 independent distributors in over 100 countries.

More notable recent IRIDEX Corporation (NASDAQ:IRIX) news were published by: Prnewswire.com which released: “IRIDEX to Present at Upcoming Investor Conferences” on November 07, 2016, also Prnewswire.com with their article: “IRIDEX Announces Third Quarter 2016 Conference Call and Release Date” published on October 27, 2016, Prnewswire.com published: “IRIDEX Announces Atabak Mokari Will Be Chief Financial Officer And VP …” on July 11, 2016. More interesting news about IRIDEX Corporation (NASDAQ:IRIX) were released by: Seekingalpha.com and their article: “IRIDEX Corporation’s (IRIX) CEO William M. Moore on Q3 2016 Results – Earnings …” published on November 05, 2016 as well as Prnewswire.com‘s news article titled: “IRIDEX Announces Preliminary Revenues for 2016 Third Quarter” with publication date: October 11, 2016.

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By Marguerite Chambers


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