Wall Street brokerages forecast that Glaukos Corp (NYSE:GKOS) will post sales of $39.63 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $39.30 million and the highest estimate coming in at $40.00 million. Glaukos posted sales of $40.41 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.9%. The business is expected to announce its next earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that Glaukos will report full-year sales of $167.57 million for the current financial year, with estimates ranging from $163.50 million to $173.40 million. For the next year, analysts anticipate that the company will report sales of $197.14 million, with estimates ranging from $179.91 million to $225.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Glaukos.
Glaukos (NYSE:GKOS) last released its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The firm had revenue of $43.16 million for the quarter, compared to the consensus estimate of $40.51 million. Glaukos had a negative return on equity of 4.11% and a negative net margin of 3.49%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS.
A number of equities research analysts have recently weighed in on GKOS shares. Stifel Nicolaus boosted their target price on Glaukos from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. Piper Jaffray Companies boosted their target price on Glaukos to $46.00 and gave the stock an “overweight” rating in a research report on Friday, August 3rd. TheStreet upgraded Glaukos from a “d” rating to a “c-” rating in a report on Monday, June 25th. Stephens reiterated an “overweight” rating and issued a $57.00 price objective on shares of Glaukos in a report on Wednesday, August 29th. Finally, BMO Capital Markets upped their price objective on Glaukos from $59.00 to $62.00 and gave the company a “market perform” rating in a report on Thursday, August 30th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.20.
In related news, Director Gilbert H. Kliman sold 502,760 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.39, for a total value of $30,361,676.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Chris M. Calcaterra sold 38,983 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $44.44, for a total value of $1,732,404.52. Following the completion of the sale, the chief operating officer now owns 278,983 shares of the company’s stock, valued at approximately $12,398,004.52. The disclosure for this sale can be found here. Insiders sold 691,743 shares of company stock valued at $37,911,081 in the last quarter. 11.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. NumerixS Investment Technologies Inc bought a new stake in shares of Glaukos in the second quarter worth about $127,000. Great West Life Assurance Co. Can increased its holdings in shares of Glaukos by 112.0% in the second quarter. Great West Life Assurance Co. Can now owns 4,240 shares of the medical instruments supplier’s stock worth $172,000 after acquiring an additional 2,240 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Glaukos in the second quarter worth about $183,000. Amalgamated Bank bought a new stake in shares of Glaukos in the second quarter worth about $205,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Glaukos in the second quarter worth about $248,000.
Shares of GKOS stock traded down $0.48 on Thursday, reaching $61.36. 297,166 shares of the stock were exchanged, compared to its average volume of 570,680. Glaukos has a one year low of $23.08 and a one year high of $70.91.
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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