Second Sight Medical Products, Inc. (NASDAQ:EYES) Posts Earnings Results, Beats Estimates By $0.01 EPS

Second Sight Medical Products, Inc. (NASDAQ:EYES) released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01, Morningstar.com reports. Second Sight Medical Products had a negative return on equity of 168.49% and a negative net margin of 646.89%. The firm had revenue of $2.24 million during the quarter, compared to the consensus estimate of $1.43 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business’s revenue was up 124.0% on a year-over-year basis.

Second Sight Medical Products (EYES) traded down 3.00% during midday trading on Friday, hitting $0.97. The stock had a trading volume of 122,722 shares. The stock’s market capitalization is $55.09 million. The stock’s 50-day moving average is $1.20 and its 200-day moving average is $1.30. Second Sight Medical Products has a 1-year low of $0.90 and a 1-year high of $3.76.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Second Sight Medical Products by 0.7% in the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock valued at $1,062,000 after buying an additional 5,973 shares in the last quarter. Van Den Berg Management I Inc. boosted its position in Second Sight Medical Products by 27.2% in the first quarter. Van Den Berg Management I Inc. now owns 243,679 shares of the medical device company’s stock valued at $295,000 after buying an additional 52,102 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Second Sight Medical Products by 980,566.2% in the first quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock valued at $258,000 after buying an additional 696,202 shares in the last quarter. Carl Domino Inc boosted its position in Second Sight Medical Products by 27.5% in the first quarter. Carl Domino Inc now owns 112,719 shares of the medical device company’s stock valued at $136,000 after buying an additional 24,308 shares in the last quarter. Finally, Versant Venture Management LLC acquired a new position in Second Sight Medical Products during the first quarter valued at $5,436,000. 15.25% of the stock is currently owned by institutional investors and hedge funds.

EYES has been the subject of several recent analyst reports. Zacks Investment Research raised Second Sight Medical Products from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, May 10th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Second Sight Medical Products in a report on Thursday, July 6th.

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Second Sight Medical Products Company Profile

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.

Earnings History for Second Sight Medical Products (NASDAQ:EYES)

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