Glaukos (NYSE:GKOS) Posts Earnings Results, Beats Expectations By $0.20 EPS

by · The Markets Daily

Glaukos (NYSE:GKOS – Get Free Report) posted its earnings results on Monday. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20, Briefing.com reports. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

GKOS traded down $3.35 during trading on Tuesday, reaching $128.03. The company’s stock had a trading volume of 1,044,555 shares, compared to its average volume of 573,078. Glaukos has a 52-week low of $59.22 and a 52-week high of $139.51. The company’s fifty day moving average price is $129.64 and its 200-day moving average price is $119.98. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of -39.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the sale, the director now directly owns 34,076 shares in the company, valued at $4,291,190.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,525 shares of company stock valued at $5,142,029. 6.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GKOS. JPMorgan Chase & Co. lifted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. BTIG Research boosted their price target on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley boosted their price target on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

View Our Latest Stock Report on Glaukos

About Glaukos

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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.

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