Glaukos (NYSE:GKOS) Issues Earnings Results, Beats Expectations By $0.20 EPS

Glaukos (NYSE:GKOS) issued its earnings results on Monday. The medical instruments supplier reported ($0.28) EPS for the quarter, beating 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 business had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same period in the previous year, the company posted ($0.50) EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Trading Down 2.6 %

NYSE GKOS traded down $3.45 during trading on Tuesday, hitting $127.93. 1,151,152 shares of the company’s stock traded hands, compared to its average volume of 573,576. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The stock has a fifty day moving average of $129.64 and a two-hundred day moving average of $119.98. The firm has a market cap of $7.03 billion, a P/E ratio of -39.72 and a beta of 1.02. Glaukos has a 12-month low of $59.22 and a 12-month high of $139.51.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GKOS. Piper Sandler set a $140.00 price target on Glaukos in a research note on Thursday, October 17th. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial boosted their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.55.

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Aimee S. Weisner sold 25,000 shares of the 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 directly owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,525 shares of company stock worth $5,142,029. Company insiders own 6.40% of the company’s stock.

Glaukos Company Profile

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.