Analysts expect Glaukos Corp (NYSE:GKOS) to post $49.44 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Glaukos’ earnings, with estimates ranging from $48.40 million to $50.00 million. Glaukos reported sales of $41.65 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.7%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 27th.
On average, analysts expect that Glaukos will report full year sales of $176.64 million for the current financial year, with estimates ranging from $175.60 million to $177.20 million. For the next year, analysts forecast that the business will post sales of $221.59 million, with estimates ranging from $214.86 million to $227.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Glaukos.
Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, November 7th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.05). The company had revenue of $43.91 million during the quarter, compared to analyst estimates of $41.65 million. Glaukos had a negative net margin of 8.13% and a negative return on equity of 9.26%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS.
Several research analysts have recently weighed in on GKOS shares. ValuEngine upgraded shares of Glaukos from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 29th. BMO Capital Markets upped their price target on shares of Glaukos from $59.00 to $62.00 and gave the company a “market perform” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Piper Jaffray Companies increased their target price on shares of Glaukos to $73.00 and gave the stock an “overweight” rating in a report on Friday, August 31st. Finally, JPMorgan Chase & Co. upgraded shares of Glaukos from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $75.00 in a report on Wednesday, August 29th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $58.20.
Shares of Glaukos stock traded down $2.15 on Wednesday, hitting $64.37. The company had a trading volume of 773,850 shares, compared to its average volume of 437,588. Glaukos has a twelve month low of $23.08 and a twelve month high of $70.91.
In related news, Director William J. Phd Link sold 41,500 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $57.62, for a total transaction of $2,391,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph E. Gilliam sold 2,100 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $58.37, for a total transaction of $122,577.00. Following the completion of the sale, the chief financial officer now owns 91,117 shares of the company’s stock, valued at approximately $5,318,499.29. The disclosure for this sale can be found here. Insiders have sold 63,075 shares of company stock valued at $3,653,652 in the last 90 days. 11.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group acquired a new stake in Glaukos in the third quarter valued at $63,000. NumerixS Investment Technologies Inc acquired a new stake in Glaukos in the second quarter valued at $127,000. Prudential Financial Inc. acquired a new stake in Glaukos in the third quarter valued at $203,000. First Republic Investment Management Inc. acquired a new stake in Glaukos in the third quarter valued at $217,000. Finally, Equitable Trust Co. acquired a new stake in Glaukos in the third quarter valued at $260,000.
Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.
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