Glaukos (NYSE:GKOS) Issues Quarterly Earnings Results

Glaukos (NYSE:GKOS) released its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.57, FiscalAI reports. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%.

Glaukos Stock Up 0.2%

Shares of GKOS traded up $0.30 during midday trading on Wednesday, hitting $181.47. The stock had a trading volume of 1,382,659 shares, compared to its average volume of 876,675. The company has a 50 day simple moving average of $171.28 and a two-hundred day simple moving average of $139.53. Glaukos has a twelve month low of $76.88 and a twelve month high of $191.62. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of -55.84 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GKOS shares. Mizuho set a $190.00 price target on Glaukos in a report on Tuesday, October 13th. Truist Financial lifted their price objective on Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BTIG Research boosted their price objective on Glaukos from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. Finally, Jefferies Financial Group raised their target price on shares of Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.43.

Insider Transactions at Glaukos

In other Glaukos news, Director Leana Wen sold 525 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the sale, the director owned 21,092 shares in the company, valued at approximately $3,535,651.96. The trade was a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alex Thurman sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the transaction, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,908,787.78. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 83,025 shares of company stock valued at $14,950,006. 5.90% of the stock is currently owned by company insiders.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.