Glaukos Corp (GKOS) Expected to Post Quarterly Sales of $40.71 Million

Equities research analysts forecast that Glaukos Corp (NYSE:GKOS) will post sales of $40.71 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $39.80 million and the highest estimate coming in at $41.23 million. Glaukos reported sales of $33.17 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The business is scheduled to issue its next earnings report on Wednesday, March 7th.

On average, analysts expect that Glaukos will report full year sales of $40.71 million for the current year, with estimates ranging from $157.70 million to $159.00 million. For the next financial year, analysts anticipate that the firm will post sales of $174.12 million per share, with estimates ranging from $168.50 million to $185.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Glaukos.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The business had revenue of $40.41 million during the quarter, compared to analysts’ expectations of $38.69 million. Glaukos had a negative net margin of 0.64% and a positive return on equity of 3.50%. The business’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share.

A number of research firms have issued reports on GKOS. Cantor Fitzgerald set a $48.00 price target on shares of Glaukos and gave the stock a “buy” rating in a report on Wednesday, January 10th. BMO Capital Markets decreased their price target on shares of Glaukos from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Stephens reiterated an “overweight” rating and issued a $40.00 price objective (down previously from $47.00) on shares of Glaukos in a research note on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $44.86.

Glaukos (GKOS) traded up $0.14 during midday trading on Wednesday, hitting $28.47. 555,700 shares of the company’s stock were exchanged, compared to its average volume of 471,490. The stock has a market capitalization of $1,020.00 and a PE ratio of -949.00. Glaukos has a fifty-two week low of $23.08 and a fifty-two week high of $52.49.

In other Glaukos news, CFO Joseph E. Gilliam acquired 2,100 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average price of $23.84 per share, for a total transaction of $50,064.00. Following the completion of the purchase, the chief financial officer now directly owns 102,100 shares of the company’s stock, valued at $2,434,064. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 16.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its position in Glaukos by 10.5% during the second quarter. California Public Employees Retirement System now owns 8,400 shares of the medical instruments supplier’s stock valued at $348,000 after buying an additional 800 shares during the period. PNC Financial Services Group Inc. grew its position in Glaukos by 1.4% during the second quarter. PNC Financial Services Group Inc. now owns 70,313 shares of the medical instruments supplier’s stock valued at $2,915,000 after buying an additional 994 shares during the period. Ameritas Investment Partners Inc. grew its position in Glaukos by 93.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 1,212 shares during the period. GSA Capital Partners LLP grew its position in Glaukos by 3.7% during the second quarter. GSA Capital Partners LLP now owns 35,080 shares of the medical instruments supplier’s stock valued at $1,455,000 after buying an additional 1,237 shares during the period. Finally, Navellier & Associates Inc grew its position in Glaukos by 4.9% during the second quarter. Navellier & Associates Inc now owns 33,307 shares of the medical instruments supplier’s stock valued at $1,381,000 after buying an additional 1,567 shares during the period. Institutional investors own 99.23% of the company’s stock.

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Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

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