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

Equities analysts expect Glaukos Corp (NYSE:GKOS) to report $40.71 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Glaukos’ earnings. The lowest sales estimate is $39.80 million and the highest is $41.23 million. Glaukos reported sales of $33.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.7%. The company is expected to report its next earnings report on Wednesday, March 7th.

According to Zacks, 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 fiscal year, analysts forecast that the business will report 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 analysts that cover Glaukos.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. Glaukos had a positive return on equity of 3.50% and a negative net margin of 0.64%. The business had revenue of $40.41 million during the quarter, compared to analyst estimates of $38.69 million. During the same period in the prior year, the company earned $0.03 earnings per share. Glaukos’s revenue was up 36.6% compared to the same quarter last year.

GKOS has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating and set a $45.00 price objective on shares of Glaukos in a report on Wednesday, October 18th. Zacks Investment Research raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Stephens reissued an “overweight” rating and set a $40.00 price objective (down from $47.00) on shares of Glaukos in a report on Monday, November 13th. Finally, Cantor Fitzgerald set a $48.00 price objective on Glaukos and gave the company a “buy” rating in a report on Wednesday, December 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $44.86.

In related news, CFO Joseph E. Gilliam bought 2,100 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 102,100 shares in the company, valued at approximately $2,434,064. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.40% of the company’s stock.

Several hedge funds have recently modified their holdings of GKOS. Schwab Charles Investment Management Inc. raised its position in shares of Glaukos by 48.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 73,637 shares of the medical instruments supplier’s stock worth $3,054,000 after buying an additional 23,947 shares in the last quarter. Legal & General Group Plc raised its position in shares of Glaukos by 77.6% in the second quarter. Legal & General Group Plc now owns 7,240 shares of the medical instruments supplier’s stock worth $299,000 after buying an additional 3,164 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Glaukos by 37.1% in the second quarter. Principal Financial Group Inc. now owns 21,745 shares of the medical instruments supplier’s stock worth $901,000 after buying an additional 5,883 shares in the last quarter. Swiss National Bank raised its position in shares of Glaukos by 32.6% in the second quarter. Swiss National Bank now owns 25,200 shares of the medical instruments supplier’s stock worth $1,045,000 after buying an additional 6,200 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Glaukos by 74.8% in the second quarter. Teachers Advisors LLC now owns 51,598 shares of the medical instruments supplier’s stock worth $2,140,000 after buying an additional 22,086 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Glaukos (GKOS) opened at $29.91 on Friday. Glaukos has a twelve month low of $23.08 and a twelve month high of $52.49. The firm has a market capitalization of $1,042.15, a price-to-earnings ratio of -747.56, a price-to-earnings-growth ratio of 43.70 and a beta of 1.21.

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About Glaukos

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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