Equities research analysts forecast that Glaukos Corp (NYSE:GKOS) will report sales of $41.52 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Glaukos’ earnings, with estimates ranging from $39.63 million to $43.20 million. Glaukos reported sales of $41.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The company is expected to issue its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Glaukos will report full year sales of $167.57 million for the current fiscal year, with estimates ranging from $163.50 million to $173.40 million. For the next fiscal year, analysts expect that the firm will post sales of $197.14 million per share, with estimates ranging from $179.91 million to $225.30 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Glaukos.
Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Glaukos had a negative return on equity of 4.11% and a negative net margin of 3.49%. The company had revenue of $43.16 million for the quarter, compared to the consensus estimate of $40.51 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Glaukos’s revenue was up 4.5% compared to the same quarter last year.
Several research firms recently issued reports on GKOS. Piper Jaffray Companies raised their price target on Glaukos to $73.00 and gave the stock an “overweight” rating in a research report on Friday, August 31st. BMO Capital Markets raised their price target on Glaukos from $59.00 to $68.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 5th. Berenberg Bank began coverage on Glaukos in a research report on Thursday, August 30th. They set a “hold” rating and a $57.00 price target on the stock. ValuEngine upgraded Glaukos from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 29th. Finally, Wells Fargo & Co raised their price target on Glaukos from $50.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, August 30th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $58.20.
GKOS opened at $62.77 on Friday. Glaukos has a 1 year low of $23.08 and a 1 year high of $70.91. The company has a market cap of $2.24 billion, a P/E ratio of 1,281.80 and a beta of 1.46.
In other news, Director Gilbert H. Kliman sold 502,760 shares of Glaukos stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.39, for a total value of $30,361,676.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Chris M. Calcaterra sold 7,759 shares of Glaukos stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $44.01, for a total value of $341,473.59. Following the completion of the sale, the chief operating officer now owns 247,759 shares in the company, valued at $10,903,873.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 699,502 shares of company stock worth $38,252,555. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds have recently modified their holdings of GKOS. Cortina Asset Management LLC bought a new stake in shares of Glaukos in the 1st quarter worth approximately $20,644,000. Waddell & Reed Financial Inc. grew its position in shares of Glaukos by 68.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,115,815 shares of the medical instruments supplier’s stock worth $45,346,000 after buying an additional 453,167 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Glaukos by 20.5% in the 2nd quarter. BlackRock Inc. now owns 2,416,215 shares of the medical instruments supplier’s stock valued at $98,197,000 after purchasing an additional 411,836 shares during the period. Rhenman & Partners Asset Management AB purchased a new position in shares of Glaukos in the 2nd quarter valued at approximately $14,630,000. Finally, Federated Investors Inc. PA lifted its stake in shares of Glaukos by 75.7% in the 1st quarter. Federated Investors Inc. PA now owns 790,750 shares of the medical instruments supplier’s stock valued at $24,379,000 after purchasing an additional 340,696 shares during the period.
Glaukos Company Profile
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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