Zacks Investment Research upgraded shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “
Separately, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Second Sight Medical Products in a report on Thursday, July 6th.
Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Second Sight Medical Products had a negative net margin of 646.89% and a negative return on equity of 168.49%. The firm had revenue of $2.24 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 124.0% on a year-over-year basis.
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A hedge fund recently raised its stake in Second Sight Medical Products stock. BNP Paribas Arbitrage SA raised its stake in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 980,566.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 696,273 shares of the medical device company’s stock after purchasing an additional 696,202 shares during the period. BNP Paribas Arbitrage SA owned 1.24% of Second Sight Medical Products worth $258,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.07% of the company’s stock.
About Second Sight Medical Products
Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.
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