Zacks Investment Research upgraded shares of IRIDEX (NASDAQ:IRIX) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “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. “
Separately, Roth Capital reiterated a buy rating and issued a $13.00 price target on shares of IRIDEX in a report on Friday, November 3rd.
In other IRIDEX news, CEO William M. Moore acquired 5,000 shares of IRIDEX stock in a transaction that occurred on Tuesday, December 12th. The stock was bought at an average price of $7.84 per share, with a total value of $39,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.01% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC bought a new position in IRIDEX in the third quarter worth approximately $141,000. Lyon Street Capital LLC raised its stake in IRIDEX by 4.5% in the third quarter. Lyon Street Capital LLC now owns 442,647 shares of the medical equipment provider’s stock worth $4,148,000 after buying an additional 19,059 shares in the last quarter. Osborne Partners Capital Management LLC acquired a new position in shares of IRIDEX during the third quarter worth $673,000. Ingalls & Snyder LLC acquired a new position in shares of IRIDEX during the third quarter worth $234,000. Finally, Susquehanna International Group LLP acquired a new position in shares of IRIDEX during the second quarter worth $196,000. 49.31% of the stock is owned by institutional investors.
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 operates through ophthalmology segment. Its 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).
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