Glaukos Co. to Post Q3 2024 Earnings of ($0.55) Per Share, Zacks Research Forecasts (NYSE:GKOS)

Glaukos Co. (NYSE:GKOS - Free Report) - Equities research analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for Glaukos in a report issued on Tuesday, August 20th. Zacks Research analyst I. Bandyopadhyay now forecasts that the medical instruments supplier will post earnings per share of ($0.55) for the quarter, down from their previous forecast of ($0.54). The consensus estimate for Glaukos' current full-year earnings is ($2.25) per share. Zacks Research also issued estimates for Glaukos' Q4 2024 earnings at ($0.54) EPS, FY2024 earnings at ($2.32) EPS, Q1 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.42) EPS, Q1 2026 earnings at ($0.23) EPS and FY2026 earnings at ($0.53) EPS.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same quarter in the previous year, the firm earned ($0.55) EPS. Glaukos's revenue was up 19.0% on a year-over-year basis.

A number of other research firms also recently issued reports on GKOS. Jefferies Financial Group upgraded Glaukos from a "hold" rating to a "buy" rating and boosted their price target for the company from $84.00 to $125.00 in a research note on Monday, May 6th. Truist Financial restated a "buy" rating and set a $145.00 price target (up from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Glaukos from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. boosted their price objective on Glaukos from $108.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their price objective on Glaukos from $110.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $127.73.

Glaukos Stock Performance

Shares of Glaukos stock traded up $2.83 during trading hours on Friday, reaching $132.89. 412,685 shares of the stock traded hands, compared to its average volume of 590,511. The company has a 50 day moving average price of $119.69 and a 200 day moving average price of $105.96. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of -45.97 and a beta of 1.05. Glaukos has a one year low of $59.22 and a one year high of $133.34. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the sale, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at approximately $13,216,581.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now owns 101,845 shares in the company, valued at approximately $12,362,964.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $13,216,581.84. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $5,550,740 in the last three months. 6.40% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in Glaukos in the 2nd quarter valued at $67,460,000. Primecap Management Co. CA grew its position in shares of Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier's stock worth $144,483,000 after buying an additional 372,180 shares in the last quarter. Norges Bank bought a new position in shares of Glaukos during the 4th quarter worth $28,807,000. Allspring Global Investments Holdings LLC grew its position in shares of Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier's stock worth $48,805,000 after buying an additional 246,322 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Glaukos during the 4th quarter worth $15,065,000. Hedge funds and other institutional investors own 99.04% of the company's stock.

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.