Glaukos Corporation (GKOS) Expected to Post Quarterly Sales of $42.58 Million
Analysts predict that Glaukos Corporation (NYSE:GKOS) will announce $42.58 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Glaukos Corporation’s earnings. The lowest sales estimate is $41.40 million and the highest is $43.71 million. Glaukos Corporation reported sales of $29.58 million during the same quarter last year, which indicates a positive year-over-year growth rate of 43.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 9th.
On average, analysts expect that Glaukos Corporation will report full-year sales of $42.58 million for the current financial year, with estimates ranging from $163.10 million to $166.85 million. For the next year, analysts forecast that the firm will report sales of $207.63 million per share, with estimates ranging from $203.20 million to $211.77 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Glaukos Corporation.
Several research firms have recently weighed in on GKOS. BidaskClub downgraded Glaukos Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Glaukos Corporation from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 4th. Roth Capital cut their price target on Glaukos Corporation from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “buy” rating on shares of Glaukos Corporation in a research note on Thursday. Finally, BMO Capital Markets restated a “buy” rating and set a $54.00 price target on shares of Glaukos Corporation in a research note on Friday, September 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Glaukos Corporation presently has an average rating of “Buy” and a consensus price target of $53.33.
Shares of Glaukos Corporation (NYSE:GKOS) traded down 18.12% on Monday, reaching $33.84. 6,153,027 shares of the company’s stock were exchanged. The stock’s market cap is $1.17 billion. The company’s 50 day moving average is $39.49 and its 200-day moving average is $43.11. Glaukos Corporation has a one year low of $28.72 and a one year high of $52.49.
In other Glaukos Corporation news, CEO Thomas William Burns sold 1,212 shares of Glaukos Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $41.25, for a total value of $49,995.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Orbimed Advisors Llc sold 325,000 shares of Glaukos Corporation stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.93, for a total value of $12,327,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,200 shares of company stock worth $37,900,263. Insiders own 16.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Great West Life Assurance Co. Can purchased a new position in Glaukos Corporation in the first quarter valued at about $102,000. Ameritas Investment Partners Inc. grew its stake in Glaukos Corporation by 93.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 1,212 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Glaukos Corporation by 740.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,539 shares of the medical instruments supplier’s stock valued at $147,000 after purchasing an additional 3,118 shares during the last quarter. Prudential Financial Inc. purchased a new position in Glaukos Corporation in the first quarter valued at about $204,000. Finally, Caxton Associates LP purchased a new position in Glaukos Corporation in the first quarter valued at about $272,000.
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Glaukos Corporation 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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