Glaukos (GKOS) Issues Earnings Results

Glaukos (NYSE:GKOS) released its quarterly earnings results on Wednesday. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05), Briefing.com reports. The company had revenue of $43.91 million for the quarter, compared to analyst estimates of $41.65 million. Glaukos had a negative net margin of 3.49% and a negative return on equity of 4.11%. Glaukos’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS.

Shares of NYSE GKOS traded down $2.91 during midday trading on Thursday, reaching $58.93. The company’s stock had a trading volume of 50,718 shares, compared to its average volume of 418,544. Glaukos has a 12-month low of $23.08 and a 12-month high of $70.91.

A number of research firms have issued reports on GKOS. Zacks Investment Research downgraded Glaukos from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Stephens lifted their price target on Glaukos from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, September 10th. BMO Capital Markets lifted their price target on Glaukos from $59.00 to $68.00 and gave the company a “market perform” rating in a research note on Wednesday, September 5th. Piper Jaffray Companies lifted their price target on Glaukos to $73.00 and gave the company an “overweight” rating in a research note on Friday, August 31st. Finally, Berenberg Bank assumed coverage on Glaukos in a research note on Thursday, August 30th. They issued a “hold” rating and a $57.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.20.

In other news, Director Gilbert H. Kliman sold 502,760 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.39, for a total value of $30,361,676.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Glaukos by 20.5% in the second quarter. BlackRock Inc. now owns 2,416,215 shares of the medical instruments supplier’s stock valued at $98,197,000 after purchasing an additional 411,836 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Glaukos by 8.2% in the second quarter. Baillie Gifford & Co. now owns 1,211,663 shares of the medical instruments supplier’s stock valued at $49,242,000 after purchasing an additional 92,050 shares during the last quarter. Waddell & Reed Financial Inc. lifted its stake in Glaukos by 68.4% in the second quarter. Waddell & Reed Financial Inc. now owns 1,115,815 shares of the medical instruments supplier’s stock valued at $45,346,000 after purchasing an additional 453,167 shares during the last quarter. FMR LLC lifted its stake in Glaukos by 19.3% in the second quarter. FMR LLC now owns 1,056,162 shares of the medical instruments supplier’s stock valued at $42,923,000 after purchasing an additional 171,092 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Glaukos by 12.6% in the second quarter. Jennison Associates LLC now owns 678,096 shares of the medical instruments supplier’s stock valued at $27,558,000 after purchasing an additional 75,990 shares during the last quarter.

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About Glaukos

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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Earnings History for Glaukos (NYSE:GKOS)

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