Glaukos (NYSE:GKOS) Announces Earnings Results, Beats Estimates By $0.20 EPS

Glaukos (NYSE:GKOS) posted its earnings results on Monday. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20, Briefing.com reports. Glaukos had a negative return on equity of 20.28% and a negative net margin of 42.43%. The company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the business earned ($0.50) earnings per share. Glaukos’s revenue was up 23.9% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

Shares of Glaukos stock opened at $140.64 on Thursday. Glaukos has a 1 year low of $59.22 and a 1 year high of $142.45. 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 firm has a fifty day moving average price of $129.59 and a 200 day moving average price of $120.34.

Wall Street Analyst Weigh In

GKOS has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and increased their price target for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. Morgan Stanley lifted their price objective on shares of Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. BTIG Research increased their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Truist Financial raised their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $13,216,581.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,525 shares of company stock valued at $2,142,029. 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.