Glaukos (NYSE:GKOS) Announces Earnings Results

Glaukos (NYSE:GKOS) announced its quarterly earnings data on Monday. The medical instruments supplier reported ($0.28) earnings per share (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 20.28% and a negative net margin of 42.43%. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

NYSE:GKOS opened at $140.64 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. Glaukos has a fifty-two week low of $59.22 and a fifty-two week high of $142.45. The stock’s fifty day moving average is $129.59 and its 200 day moving average is $120.34.

Insider Activity

In related news, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. 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 the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos 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 sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,525 shares of company stock valued at $2,142,029. 6.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GKOS shares. Needham & Company LLC increased their price objective on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler set a $140.00 price target on Glaukos in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus increased their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.55.

About Glaukos

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.