Wall Street brokerages expect that Glaukos Corp (NYSE:GKOS) will report $39.63 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Glaukos’ earnings. The lowest sales estimate is $39.30 million and the highest is $40.00 million. Glaukos reported sales of $40.41 million in the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The business is expected to report its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Glaukos will report full year sales of $167.57 million for the current year, with estimates ranging from $163.50 million to $173.40 million. For the next financial year, analysts forecast that the business will post sales of $197.14 million, with estimates ranging from $179.91 million to $225.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow Glaukos.
Glaukos (NYSE:GKOS) last posted its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The company had revenue of $43.16 million for the quarter, compared to analysts’ expectations of $40.51 million. Glaukos had a negative return on equity of 4.11% and a negative net margin of 3.49%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS.
GKOS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered Glaukos from an “overweight” rating to a “neutral” rating in a report on Thursday, June 21st. TheStreet upgraded Glaukos from a “d” rating to a “c-” rating in a report on Monday, June 25th. ValuEngine upgraded Glaukos from a “hold” rating to a “buy” rating in a report on Friday, July 6th. BMO Capital Markets lowered Glaukos from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a report on Tuesday, July 10th. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their target price on Glaukos from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $58.20.
In other news, CEO Thomas William Burns sold 150,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $38.78, for a total transaction of $5,817,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris M. Calcaterra sold 38,983 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $44.44, for a total value of $1,732,404.52. Following the sale, the chief operating officer now owns 278,983 shares of the company’s stock, valued at approximately $12,398,004.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 691,743 shares of company stock valued at $37,911,081. Company insiders own 11.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Glaukos by 14.0% during the 2nd quarter. Northern Trust Corp now owns 462,505 shares of the medical instruments supplier’s stock valued at $18,796,000 after purchasing an additional 56,902 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Glaukos by 14.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 171,070 shares of the medical instruments supplier’s stock valued at $6,952,000 after purchasing an additional 21,420 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in shares of Glaukos by 68.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,115,815 shares of the medical instruments supplier’s stock valued at $45,346,000 after acquiring an additional 453,167 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Glaukos by 13.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,446 shares of the medical instruments supplier’s stock valued at $628,000 after acquiring an additional 1,838 shares during the period. Finally, Novo Holdings A S increased its position in shares of Glaukos by 6.6% in the 2nd quarter. Novo Holdings A S now owns 602,709 shares of the medical instruments supplier’s stock valued at $24,494,000 after acquiring an additional 37,544 shares during the period.
Glaukos stock traded down $0.46 during mid-day trading on Monday, reaching $60.91. 605,300 shares of the company were exchanged, compared to its average volume of 580,094. Glaukos has a 12-month low of $23.08 and a 12-month high of $70.91.
Glaukos Company Profile
Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.
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