$40.71 Million in Sales Expected for Glaukos Corp (GKOS) This Quarter

Equities research analysts expect that Glaukos Corp (NYSE:GKOS) will report sales of $40.71 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $39.80 million and the highest estimate coming in at $41.23 million. Glaukos reported sales of $33.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.7%. The company is expected to report its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Glaukos will report full-year sales of $40.71 million for the current fiscal year, with estimates ranging from $157.70 million to $159.00 million. For the next year, analysts expect that the business will post sales of $174.12 million per share, with estimates ranging from $168.50 million to $185.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Glaukos.

Glaukos (NYSE:GKOS) last announced its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. Glaukos had a negative net margin of 0.64% and a positive return on equity of 3.50%. The business had revenue of $40.41 million for the quarter, compared to analyst estimates of $38.69 million. During the same quarter last year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 36.6% compared to the same quarter last year.

Several analysts have recently issued reports on GKOS shares. BMO Capital Markets dropped their target price on shares of Glaukos from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $60.00 price target on shares of Glaukos in a research note on Tuesday, November 7th. Stephens reissued an “overweight” rating and issued a $40.00 price target (down from $47.00) on shares of Glaukos in a research note on Monday, November 13th. Finally, Zacks Investment Research raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $44.86.

In other Glaukos news, CFO Joseph E. Gilliam purchased 2,100 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of $23.84 per share, with a total value of $50,064.00. Following the completion of the purchase, the chief financial officer now owns 102,100 shares in the company, valued at approximately $2,434,064. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 16.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of GKOS. Janus Henderson Group PLC increased its position in shares of Glaukos by 7.2% during the third quarter. Janus Henderson Group PLC now owns 3,344,361 shares of the medical instruments supplier’s stock valued at $110,364,000 after acquiring an additional 225,105 shares during the last quarter. Capital World Investors increased its position in shares of Glaukos by 17.1% during the second quarter. Capital World Investors now owns 2,740,000 shares of the medical instruments supplier’s stock valued at $113,628,000 after acquiring an additional 400,000 shares during the last quarter. Bamco Inc. NY increased its position in shares of Glaukos by 104.6% during the third quarter. Bamco Inc. NY now owns 2,194,059 shares of the medical instruments supplier’s stock valued at $72,404,000 after acquiring an additional 1,121,813 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Glaukos by 3.4% during the second quarter. Vanguard Group Inc. now owns 1,668,345 shares of the medical instruments supplier’s stock valued at $69,187,000 after acquiring an additional 55,507 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Glaukos during the second quarter valued at about $683,000. 99.23% of the stock is currently owned by institutional investors.

Shares of Glaukos (NYSE:GKOS) traded up $0.14 during midday trading on Wednesday, hitting $28.47. 555,700 shares of the stock traded hands, compared to its average volume of 471,490. Glaukos has a 1-year low of $23.08 and a 1-year high of $52.49. The firm has a market capitalization of $1,020.00 and a price-to-earnings ratio of -949.00.

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Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

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