Glaukos Corp (NYSE:GKOS) – William Blair dropped their FY2020 earnings per share estimates for shares of Glaukos in a research report issued to clients and investors on Thursday, November 7th. William Blair analyst B. Weinstein now forecasts that the medical instruments supplier will post earnings per share of $0.08 for the year, down from their previous estimate of $0.09. William Blair also issued estimates for Glaukos’ Q4 2020 earnings at $0.11 EPS.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Glaukos from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Thursday, September 12th. Stifel Nicolaus decreased their target price on Glaukos from $73.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. set a $90.00 target price on Glaukos and gave the stock a “buy” rating in a research note on Thursday, October 10th. ValuEngine upgraded Glaukos from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Bank of America lowered Glaukos from a “buy” rating to an “underperform” rating and set a $67.00 price target on the stock. in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Glaukos currently has a consensus rating of “Buy” and a consensus price target of $74.88.
GKOS stock opened at $62.21 on Friday. The business has a 50 day moving average price of $63.68 and a 200 day moving average price of $68.88. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -168.14 and a beta of 1.68. Glaukos has a fifty-two week low of $50.60 and a fifty-two week high of $84.65. The company has a quick ratio of 6.04, a current ratio of 6.49 and a debt-to-equity ratio of 0.43.
Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $58.51 million during the quarter, compared to analysts’ expectations of $56.96 million. Glaukos had a negative return on equity of 5.77% and a negative net margin of 5.93%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share.
In other Glaukos news, CFO Joseph E. Gilliam sold 4,631 shares of Glaukos stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $59.75, for a total transaction of $276,702.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 15,512 shares of company stock worth $990,672. 8.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Glaukos by 5.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 201,917 shares of the medical instruments supplier’s stock worth $15,225,000 after buying an additional 9,771 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Glaukos by 38.8% in the second quarter. Envestnet Asset Management Inc. now owns 16,852 shares of the medical instruments supplier’s stock valued at $1,271,000 after purchasing an additional 4,710 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Glaukos by 60.6% in the second quarter. Baillie Gifford & Co. now owns 2,825,084 shares of the medical instruments supplier’s stock valued at $213,012,000 after purchasing an additional 1,065,462 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Glaukos by 74.2% in the second quarter. Wasatch Advisors Inc. now owns 127,998 shares of the medical instruments supplier’s stock valued at $9,651,000 after purchasing an additional 54,500 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Glaukos by 397.3% in the second quarter. Cubist Systematic Strategies LLC now owns 22,439 shares of the medical instruments supplier’s stock valued at $1,692,000 after purchasing an additional 17,927 shares during the period. 96.58% of the stock is currently owned by institutional investors.
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; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.
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