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

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

Glaukos Stock Performance

NYSE:GKOS traded up $12.78 during mid-day trading on Wednesday, reaching $140.64. The company’s stock had a trading volume of 1,426,189 shares, compared to its average volume of 579,979. Glaukos has a 12-month low of $59.22 and a 12-month high of $142.45. The firm’s fifty day moving average price is $129.48 and its two-hundred day moving average price is $120.20. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The stock has a market cap of $7.73 billion, a P/E ratio of -43.41 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GKOS. Wells Fargo & Company raised their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $132.00 in a research note on Wednesday, July 10th. Truist Financial lifted their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.55.

Insiders Place Their Bets

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,525 shares of company stock valued at $5,142,029. 6.40% of the stock is owned by insiders.

Glaukos Company Profile

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.