Glaukos (NYSE:GKOS) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Glaukos (NYSE:GKOS) issued its earnings results on Tuesday. The medical instruments supplier reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05), FiscalAI reports. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The business had revenue of $143.12 million during the quarter, compared to analysts’ expectations of $132.16 million.

Glaukos Stock Down 2.2%

Shares of GKOS traded down $2.39 on Tuesday, reaching $107.08. The stock had a trading volume of 1,243,733 shares, compared to its average volume of 820,911. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. Glaukos has a 12-month low of $73.16 and a 12-month high of $161.78. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -69.53 and a beta of 0.70. The company has a 50-day simple moving average of $114.66 and a 200-day simple moving average of $98.20.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup lifted their price target on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group lifted their target price on shares of Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. William Blair upgraded shares of Glaukos to a “strong-buy” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.54.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total transaction of $33,075.00. Following the completion of the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the sale, the director owned 34,905 shares in the company, valued at approximately $3,744,259.35. This trade represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 310,315 shares of company stock valued at $36,011,634 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA lifted its position in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares in the last quarter. State Street Corp boosted its stake in Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after purchasing an additional 68,497 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Glaukos by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 714,026 shares of the medical instruments supplier’s stock valued at $80,621,000 after purchasing an additional 11,646 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.