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

Glaukos (NYSE:GKOS - Get Free Report) issued its earnings results on Monday. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $96.70 million during the quarter, compared to analysts' expectations of $91.50 million. During the same period in the prior year, the business earned ($0.50) EPS. The firm's quarterly revenue was up 23.9% on a year-over-year basis. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Down 2.8 %

Shares of NYSE GKOS traded down $3.69 during midday trading on Tuesday, hitting $127.69. The company's stock had a trading volume of 1,672,744 shares, compared to its average volume of 576,013. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -39.72 and a beta of 1.02. Glaukos has a 1 year low of $59.22 and a 1 year high of $139.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The business's fifty day simple moving average is $129.64 and its two-hundred day simple moving average is $119.98.

Analysts Set New Price Targets

Several research firms recently issued reports on GKOS. StockNews.com upgraded shares of Glaukos from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Monday, July 15th. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. BTIG Research raised their target price on Glaukos from $131.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Finally, Citigroup lowered Glaukos from a "buy" rating to a "neutral" rating and upped their price target for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.55.

Insider Buying and Selling at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the business's stock in a transaction on 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 completion of the transaction, the director now directly owns 30,119 shares of the company's stock, valued at $3,614,280. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares in the company, valued at $3,614,280. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marc Stapley sold 6,250 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the sale, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,525 shares of company stock valued at $5,142,029 in the last 90 days. Company insiders own 6.40% of the company's stock.

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.