Equities research analysts expect Glaukos Corp (NYSE:GKOS) to post sales of $49.44 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $48.40 million and the highest estimate coming in at $50.00 million. Glaukos posted sales of $41.65 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.7%. The business is scheduled to report its next earnings report after the market closes on Wednesday, February 27th.
According to Zacks, analysts expect that Glaukos will report full year sales of $176.77 million for the current year, with estimates ranging from $175.60 million to $177.30 million. For the next year, analysts expect that the business will post sales of $223.18 million, with estimates ranging from $214.86 million to $233.13 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Glaukos.
Separately, Zacks Investment Research cut Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $58.20.
GKOS stock traded up $0.48 during trading on Tuesday, hitting $69.25. 184,565 shares of the company traded hands, compared to its average volume of 323,977. Glaukos has a 1 year low of $26.75 and a 1 year high of $70.91.
In other Glaukos news, CFO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $60.03, for a total value of $300,150.00. Following the sale, the chief financial officer now directly owns 86,117 shares of the company’s stock, valued at $5,169,603.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph E. Gilliam sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $58.37, for a total value of $122,577.00. Following the completion of the sale, the chief financial officer now directly owns 91,117 shares in the company, valued at $5,318,499.29. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors grew its holdings in Glaukos by 1.0% in the third quarter. Capital World Investors now owns 2,820,000 shares of the medical instruments supplier’s stock valued at $183,018,000 after purchasing an additional 27,519 shares during the period. Vanguard Group Inc. grew its holdings in Glaukos by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,805,222 shares of the medical instruments supplier’s stock valued at $182,059,000 after purchasing an additional 90,235 shares during the period. Vanguard Group Inc grew its holdings in Glaukos by 3.3% in the third quarter. Vanguard Group Inc now owns 2,805,222 shares of the medical instruments supplier’s stock valued at $182,059,000 after purchasing an additional 90,235 shares during the period. BlackRock Inc. grew its holdings in Glaukos by 6.3% in the fourth quarter. BlackRock Inc. now owns 2,563,895 shares of the medical instruments supplier’s stock valued at $144,014,000 after purchasing an additional 151,304 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Glaukos by 12.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,106,080 shares of the medical instruments supplier’s stock valued at $118,298,000 after purchasing an additional 238,254 shares during the period.
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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