Glaukos Corp (GKOS) Expected to Post Quarterly Sales of $49.44 Million

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.

About Glaukos

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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Earnings History and Estimates for Glaukos (NYSE:GKOS)

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