Glaukos (NYSE:GKOS) Releases Quarterly Earnings Results, Hits Expectations

Glaukos (NYSE:GKOS) announced its earnings results on Wednesday. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52), Briefing.com reports. Glaukos had a negative return on equity of 24.96% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. During the same quarter in the previous year, the business earned ($0.55) EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Down 4.7 %

NYSE GKOS traded down $5.51 during trading on Friday, hitting $112.10. The company’s stock had a trading volume of 117,982 shares, compared to its average volume of 596,117. Glaukos has a fifty-two week low of $59.22 and a fifty-two week high of $126.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. The company has a market cap of $5.65 billion, a PE ratio of -40.88 and a beta of 1.05. The business’s 50 day simple moving average is $116.67 and its 200-day simple moving average is $102.73.

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 353 shares of Glaukos stock in a transaction on Friday, May 10th. The shares were sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now directly owns 51,647 shares in the company, valued at $5,707,509.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Alex R. Thurman sold 353 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $110.51, for a total value of $39,010.03. Following the sale, the chief financial officer now owns 51,647 shares in the company, valued at $5,707,509.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,395 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $110.56, for a total transaction of $264,791.20. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at approximately $11,259,983.20. The disclosure for this sale can be found here. Insiders sold 18,943 shares of company stock valued at $2,147,190 in the last three months. 6.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho upped their price objective on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC boosted their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Glaukos from a “hold” rating to a “buy” rating and increased their price objective for the company from $84.00 to $125.00 in a research note on Monday, May 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $127.73.

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.