Glaukos Corp (NYSE:GKOS) Expected to Post FY2020 Earnings of $0.08 Per Share

Glaukos Corp (NYSE:GKOS) – Equities researchers at William Blair dropped their FY2020 earnings estimates for Glaukos in a research note issued on Thursday, November 7th. William Blair analyst B. Weinstein now expects that the medical instruments supplier will post earnings per share of $0.08 for the year, down from their prior forecast of $0.09. William Blair also issued estimates for Glaukos’ Q4 2020 earnings at $0.11 EPS.

GKOS has been the subject of a number of other reports. JPMorgan Chase & Co. set a $90.00 price objective on Glaukos and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America cut Glaukos from a “buy” rating to an “underperform” rating and set a $67.00 price target for the company. in a report on Monday, September 30th. Stifel Nicolaus dropped their price target on Glaukos from $73.00 to $69.00 and set a “hold” rating for the company in a report on Thursday. Zacks Investment Research raised Glaukos from a “sell” rating to a “hold” rating and set a $76.00 price target for the company in a report on Thursday, September 12th. Finally, BTIG Research reissued a “hold” rating on shares of Glaukos in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned 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 $74.88.

GKOS opened at $62.21 on Friday. Glaukos has a 12-month low of $50.60 and a 12-month high of $84.65. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -168.14 and a beta of 1.68. The business has a 50 day moving average of $63.68 and a 200-day moving average of $68.88. The company has a quick ratio of 6.04, a current ratio of 6.49 and a debt-to-equity ratio of 0.43.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.07. Glaukos had a negative return on equity of 5.77% and a negative net margin of 5.93%. The company had revenue of $58.51 million during the quarter, compared to analysts’ expectations of $56.96 million. During the same period last year, the firm posted ($0.17) earnings per share. The business’s revenue was up 33.2% on a year-over-year basis.

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In related news, CFO Joseph E. Gilliam sold 3,750 shares of Glaukos stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $68.50, for a total transaction of $256,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 15,512 shares of company stock valued at $990,672. 8.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in shares of Glaukos in the 1st quarter valued at about $55,000. Amundi Pioneer Asset Management Inc. raised its stake in Glaukos by 136.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 178,502 shares of the medical instruments supplier’s stock worth $13,989,000 after buying an additional 103,102 shares during the period. NEXT Financial Group Inc raised its stake in Glaukos by 73.7% during the 2nd quarter. NEXT Financial Group Inc now owns 1,129 shares of the medical instruments supplier’s stock worth $85,000 after buying an additional 479 shares during the period. Taylor Frigon Capital Management LLC raised its stake in Glaukos by 4.1% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 43,518 shares of the medical instruments supplier’s stock worth $3,281,000 after buying an additional 1,710 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in Glaukos by 9.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 245,530 shares of the medical instruments supplier’s stock worth $18,513,000 after buying an additional 20,875 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

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; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

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Earnings History and Estimates for Glaukos (NYSE:GKOS)

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