$40.78 Million in Sales Expected for Glaukos Corp (GKOS) This Quarter

Wall Street brokerages forecast that Glaukos Corp (NYSE:GKOS) will report sales of $40.78 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Glaukos’ earnings. The lowest sales estimate is $39.63 million and the highest is $41.70 million. Glaukos reported sales of $41.29 million during the same quarter last year, which indicates a negative year over year growth rate of 1.2%. The business is scheduled to report its next earnings report on Wednesday, August 1st.

On average, analysts expect that Glaukos will report full year sales of $163.80 million for the current year, with estimates ranging from $163.10 million to $164.90 million. For the next year, analysts forecast that the company will report sales of $184.65 million per share, with estimates ranging from $177.02 million to $193.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Glaukos.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, May 9th. The medical instruments supplier reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. Glaukos had a positive return on equity of 1.22% and a negative net margin of 2.25%. The company had revenue of $40.10 million during the quarter, compared to the consensus estimate of $37.63 million. During the same period in the previous year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year.



GKOS has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Glaukos from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 26th. Stephens reissued a “buy” rating and set a $36.00 price target on shares of Glaukos in a report on Thursday, March 1st. William Blair reissued an “outperform” rating on shares of Glaukos in a report on Friday, March 23rd. JPMorgan Chase & Co. cut Glaukos from an “overweight” rating to a “neutral” rating in a report on Thursday. Finally, Cantor Fitzgerald set a $43.00 price target on Glaukos and gave the stock a “buy” rating in a report on Friday, March 23rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.13.

Shares of NYSE GKOS traded up $0.23 during midday trading on Tuesday, hitting $40.88. 876,065 shares of the company’s stock were exchanged, compared to its average volume of 419,765. Glaukos has a 12 month low of $23.08 and a 12 month high of $45.00. The company has a market capitalization of $1.42 billion, a P/E ratio of 813.00 and a beta of 1.08.

In related news, COO Chris M. Calcaterra sold 8,771 shares of Glaukos stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $44.01, for a total transaction of $386,011.71. Following the completion of the sale, the chief operating officer now directly owns 248,771 shares of the company’s stock, valued at approximately $10,948,411.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Chris M. Calcaterra sold 7,759 shares of Glaukos stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $44.01, for a total value of $341,473.59. Following the sale, the chief operating officer now directly owns 247,759 shares of the company’s stock, valued at $10,903,873.59. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in Glaukos by 10.2% in the 1st quarter. Principal Financial Group Inc. now owns 29,787 shares of the medical instruments supplier’s stock valued at $918,000 after acquiring an additional 2,746 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Glaukos by 37.2% in the 1st quarter. Handelsbanken Fonder AB now owns 258,000 shares of the medical instruments supplier’s stock valued at $7,954,000 after acquiring an additional 70,000 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Glaukos by 53.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 252,900 shares of the medical instruments supplier’s stock valued at $7,797,000 after acquiring an additional 87,600 shares in the last quarter. UBS Group AG raised its holdings in Glaukos by 14,833.6% in the 1st quarter. UBS Group AG now owns 42,710 shares of the medical instruments supplier’s stock valued at $1,316,000 after acquiring an additional 42,424 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Glaukos by 77.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 151,816 shares of the medical instruments supplier’s stock valued at $4,680,000 after acquiring an additional 66,153 shares in the last quarter.

About Glaukos

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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Earnings History and Estimates for Glaukos (NYSE:GKOS)

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