Glaukos (NYSE:GKOS) Issues Earnings Results, Beats Expectations By $0.20 EPS

Glaukos (NYSE:GKOS) released its quarterly earnings data on Monday. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20, Briefing.com reports. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) earnings per share. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

Shares of NYSE GKOS traded down $3.45 during trading hours on Tuesday, reaching $127.93. 1,151,152 shares of the stock were exchanged, compared to its average volume of 573,576. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of -39.72 and a beta of 1.02. Glaukos has a 52 week low of $59.22 and a 52 week high of $139.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The stock’s fifty day simple moving average is $129.64 and its 200 day simple moving average is $119.98.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler set a $140.00 target price on Glaukos in a research note on Thursday, October 17th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, BTIG Research upped their price objective on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

Insider Buying and Selling

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the sale, the director now owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,525 shares of company stock valued at $5,142,029 over the last 90 days. 6.40% of the stock is owned by corporate insiders.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.