Glaukos (NYSE:GKOS) Posts 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 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 firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

Shares of Glaukos stock opened at $133.32 on Wednesday. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -39.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. Glaukos has a 1 year low of $59.22 and a 1 year high of $139.51. The firm’s 50-day moving average is $129.48 and its 200 day moving average is $120.20.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday. Four 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, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Insider Buying and Selling at Glaukos

In other news, Director Aimee S. Weisner sold 25,000 shares of the 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 sale, the director now owns 30,119 shares in the company, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 directly owns 30,119 shares of the company’s stock, valued at $3,614,280. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,525 shares of company stock worth $5,142,029. 6.40% of the stock is owned by corporate insiders.

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.