Glaukos (NYSE:GKOS) Issues Quarterly Earnings Results

Glaukos (NYSE:GKOS) issued its quarterly earnings data on Monday. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20, Briefing.com reports. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

Shares of GKOS opened at $127.69 on Wednesday. The firm has a fifty day moving average of $129.48 and a 200-day moving average of $120.20. The company has a market cap of $7.02 billion, a price-to-earnings ratio of -39.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. Glaukos has a 1 year low of $59.22 and a 1 year high of $139.51.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GKOS. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus increased their target price on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and upped their price target for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Finally, BTIG Research lifted their price target on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.55.

Insider Buying and Selling

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Marc Stapley sold 6,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,525 shares of company stock valued at $5,142,029 in the last quarter. Company insiders own 6.40% of the company’s stock.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.