Glaukos (NYSE:GKOS) Issues Earnings Results, Beats Expectations By $0.20 EPS

Glaukos (NYSE:GKOS) announced its earnings results on Monday. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20, Briefing.com reports. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. Glaukos updated its FY 2024 guidance to EPS.

Glaukos Stock Performance

NYSE:GKOS traded up $12.78 during midday trading on Wednesday, reaching $140.64. 1,426,189 shares of the company traded hands, compared to its average volume of 579,979. Glaukos has a twelve month low of $59.22 and a twelve month high of $142.45. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -43.41 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. The company has a fifty day moving average price of $129.48 and a 200 day moving average price of $120.20.

Insider Buying and Selling at Glaukos

In other news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $13,216,581.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,525 shares of company stock valued at $5,142,029 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Needham & Company LLC increased their price target on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler set a $140.00 price target on shares of Glaukos in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

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.