Second Sight Medical Products (EYES) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Second Sight Medical Products (NASDAQ:EYES) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports.

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, ValuEngine downgraded Second Sight Medical Products from a hold rating to a sell rating in a report on Tuesday, May 14th.

Shares of NASDAQ EYES opened at $0.71 on Monday. The stock has a market cap of $104.54 million, a price-to-earnings ratio of -1.37 and a beta of 2.30. The company has a quick ratio of 4.50, a current ratio of 4.71 and a debt-to-equity ratio of 0.09. Second Sight Medical Products has a 1 year low of $0.63 and a 1 year high of $2.25.

Second Sight Medical Products (NASDAQ:EYES) last announced its quarterly earnings results on Wednesday, May 15th. The medical device company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The business had revenue of $1.13 million for the quarter, compared to analysts’ expectations of $1.70 million. Second Sight Medical Products had a negative return on equity of 326.46% and a negative net margin of 497.18%. On average, equities research analysts expect that Second Sight Medical Products will post -0.31 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Second Sight Medical Products stock. Wiley BROS. Aintree Capital LLC bought a new stake in Second Sight Medical Products Inc (NASDAQ:EYES) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 51,961 shares of the medical device company’s stock, valued at approximately $41,000. Institutional investors own 6.21% of the company’s stock.

About Second Sight Medical Products

Second Sight Medical Products, Inc develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury.

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