Brokerages Expect Glaukos Corp (GKOS) to Post -$0.11 EPS

Brokerages expect Glaukos Corp (NYSE:GKOS) to announce ($0.11) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Glaukos’ earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.18). Glaukos posted earnings of $0.02 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 650%. The business is scheduled to issue its next earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Glaukos will report full-year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.70) to ($0.20). For the next fiscal year, analysts forecast that the company will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.22) to $0.17. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Glaukos.

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Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Glaukos had a positive return on equity of 4.03% and a negative net margin of 0.06%. The business had revenue of $41.65 million for the quarter, compared to the consensus estimate of $40.83 million. The firm’s revenue was up 25.6% compared to the same quarter last year.

A number of research analysts recently weighed in on GKOS shares. Stephens reissued a “buy” rating and issued a $36.00 price objective on shares of Glaukos in a research note on Thursday, March 1st. Canaccord Genuity cut their price objective on Glaukos from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. Cantor Fitzgerald set a $43.00 price objective on Glaukos and gave the company a “buy” rating in a research note on Wednesday, February 28th. Stifel Nicolaus dropped their price target on Glaukos from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Glaukos in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Glaukos presently has a consensus rating of “Buy” and a consensus price target of $41.25.

In other news, Director Jonathan Silverstein sold 464,583 shares of Glaukos stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $32.29, for a total transaction of $15,001,385.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Orbimed Advisors Llc sold 836,500 shares of Glaukos stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $32.02, for a total value of $26,784,730.00. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of Glaukos by 16.8% during the 4th quarter. Handelsbanken Fonder AB now owns 188,000 shares of the medical instruments supplier’s stock worth $4,822,000 after purchasing an additional 27,000 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Glaukos by 7.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,979,960 shares of the medical instruments supplier’s stock worth $50,786,000 after purchasing an additional 137,969 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $349,000. Macquarie Group Ltd. grew its holdings in shares of Glaukos by 33.7% during the 4th quarter. Macquarie Group Ltd. now owns 50,530 shares of the medical instruments supplier’s stock worth $1,296,000 after purchasing an additional 12,750 shares in the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $336,000.

GKOS stock opened at $29.61 on Friday. Glaukos has a one year low of $23.08 and a one year high of $52.48. The firm has a market capitalization of $1,198.56, a P/E ratio of -2,958.04 and a beta of 1.07.

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About Glaukos

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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