Glaukos Co. (NYSE:GKOS) Expected to Announce Quarterly Sales of $64.89 Million


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Brokerages forecast that Glaukos Co. (NYSE:GKOS) will post $64.89 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $64.40 million and the highest estimate coming in at $65.30 million. Glaukos posted sales of $55.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Glaukos will report full year sales of $292.87 million for the current financial year, with estimates ranging from $286.50 million to $296.70 million. For the next fiscal year, analysts anticipate that the company will report sales of $341.28 million, with estimates ranging from $324.49 million to $355.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Glaukos.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Thursday, February 25th. The medical instruments supplier reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.30. Glaukos had a negative return on equity of 7.99% and a negative net margin of 33.61%.

A number of analysts have commented on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Glaukos from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $72.00 in a report on Wednesday, December 16th. Piper Sandler lowered Glaukos from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $80.00 in a report on Friday, January 29th. Finally, Smith Barney Citigroup raised Glaukos from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $72.00 in a report on Wednesday, December 16th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Glaukos presently has a consensus rating of “Hold” and an average target price of $63.00.

In other news, CFO Joseph E. Gilliam sold 13,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $96.58, for a total value of $1,327,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in GKOS. Marshall Wace North America L.P. bought a new position in Glaukos during the first quarter valued at $55,000. Amundi Pioneer Asset Management Inc. grew its holdings in Glaukos by 136.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 178,502 shares of the medical instruments supplier’s stock valued at $13,989,000 after purchasing an additional 103,102 shares during the period. Victory Capital Management Inc. bought a new position in Glaukos during the third quarter valued at $236,000. US Bancorp DE grew its holdings in Glaukos by 137.9% during the third quarter. US Bancorp DE now owns 590 shares of the medical instruments supplier’s stock valued at $29,000 after purchasing an additional 342 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in Glaukos by 177.9% during the third quarter. Great West Life Assurance Co. Can now owns 134,071 shares of the medical instruments supplier’s stock valued at $980,000 after purchasing an additional 85,833 shares during the period.

Shares of GKOS opened at $79.95 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 9.31 and a current ratio of 9.73. The stock has a 50 day moving average price of $88.10 and a two-hundred day moving average price of $72.06. The firm has a market capitalization of $3.66 billion, a P/E ratio of -48.45 and a beta of 1.87. Glaukos has a 52 week low of $30.44 and a 52 week high of $99.00.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, 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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Earnings History and Estimates for Glaukos (NYSE:GKOS)

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