Second Sight Medical Products (NASDAQ:EYES) Rating Lowered to Hold at Zacks Investment Research

Second Sight Medical Products (NASDAQ:EYES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, 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. “

Several other research firms also recently commented on EYES. Dougherty & Co initiated coverage on shares of Second Sight Medical Products in a research report on Friday, December 13th. They issued a “buy” rating and a $2.00 target price for the company. ValuEngine raised shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd.

Second Sight Medical Products stock traded down $0.24 during trading hours on Wednesday, hitting $5.27. The company had a trading volume of 31,400 shares, compared to its average volume of 63,536. The firm has a market capitalization of $85.82 million, a P/E ratio of -1.27 and a beta of 2.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 2.66. The firm’s fifty day moving average is $1.68 and its 200-day moving average is $1.04. Second Sight Medical Products has a fifty-two week low of $4.50 and a fifty-two week high of $9.60.

Second Sight Medical Products (NASDAQ:EYES) last posted its earnings results on Thursday, November 14th. The medical device company reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $0.47 million during the quarter, compared to the consensus estimate of $0.94 million. Second Sight Medical Products had a negative net margin of 743.86% and a negative return on equity of 201.34%. Analysts anticipate that Second Sight Medical Products will post -2.36 earnings per share for the current year.

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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