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

Glaukos (NYSE:GKOS) posted its earnings results 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 22.51% and a negative net margin of 47.39%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the company earned ($0.50) EPS. Glaukos’s revenue was up 23.9% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Trading Down 2.5 %

Shares of GKOS stock traded down $3.35 on Tuesday, reaching $128.03. 1,044,555 shares of the stock were exchanged, compared to its average volume of 573,078. Glaukos has a 1-year low of $59.22 and a 1-year high of $139.51. The stock has a market cap of $7.04 billion, a P/E ratio of -39.72 and a beta of 1.02. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $129.64 and a two-hundred day moving average of $119.98.

Insider Activity at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Marc Stapley sold 6,250 shares of the 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 owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at $3,614,280. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,525 shares of company stock worth $5,142,029. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GKOS. Citigroup lowered Glaukos from a “buy” rating to a “neutral” rating and upped their target price for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Morgan Stanley upped their target price on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their target price on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Piper Sandler set a $140.00 price target on Glaukos in a report on Thursday, October 17th. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Company Profile

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.