Glaukos (NYSE:GKOS) Announces Earnings Results

Glaukos (NYSE:GKOS) released its quarterly earnings data on Wednesday. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12), Briefing.com reports. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Glaukos’s quarterly revenue was up 15.8% compared to the same quarter last year. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Price Performance

Shares of NYSE:GKOS traded up $1.48 during midday trading on Friday, reaching $106.51. The company had a trading volume of 507,497 shares, compared to its average volume of 497,055. The company has a fifty day simple moving average of $93.33 and a two-hundred day simple moving average of $82.87. The company has a current ratio of 5.38, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Glaukos has a 1-year low of $49.19 and a 1-year high of $108.22.

Insider Transactions at Glaukos

In other news, CFO Alex R. Thurman sold 1,372 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the sale, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alex R. Thurman sold 1,372 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the transaction, the chief financial officer now owns 52,532 shares in the company, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock valued at $21,965,491 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GKOS shares. Stifel Nicolaus reissued a “buy” rating and issued a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. Mizuho boosted their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Wells Fargo & Company increased their price objective on shares of Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, BTIG Research upped their price objective on shares of Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

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.