Brokerages Anticipate Glaukos Corp (NYSE:GKOS) Will Announce Quarterly Sales of $56.18 Million

Wall Street analysts expect that Glaukos Corp (NYSE:GKOS) will report sales of $56.18 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Glaukos’ earnings, with the lowest sales estimate coming in at $54.81 million and the highest estimate coming in at $58.10 million. Glaukos reported sales of $43.16 million during the same quarter last year, which indicates a positive year over year growth rate of 30.2%. The firm is scheduled to issue its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Glaukos will report full-year sales of $229.03 million for the current fiscal year, with estimates ranging from $224.50 million to $236.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $271.04 million, with estimates ranging from $263.40 million to $279.93 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Glaukos.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, May 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Glaukos had a negative net margin of 5.93% and a negative return on equity of 6.90%. The company had revenue of $54.03 million during the quarter, compared to the consensus estimate of $50.13 million.

GKOS has been the topic of a number of analyst reports. BTIG Research reiterated a “hold” rating on shares of Glaukos in a research report on Wednesday, May 22nd. BMO Capital Markets lifted their target price on shares of Glaukos from $66.00 to $71.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded shares of Glaukos from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research report on Tuesday, April 30th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Glaukos in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Glaukos has a consensus rating of “Buy” and a consensus price target of $72.56.

In related news, CFO Joseph E. Gilliam sold 2,603 shares of Glaukos stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.14, for a total value of $169,559.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 17,500 shares of company stock worth $1,251,929. 8.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new position in shares of Glaukos in the first quarter valued at about $48,000. Marshall Wace North America L.P. purchased a new position in shares of Glaukos during the first quarter valued at about $55,000. NumerixS Investment Technologies Inc increased its position in shares of Glaukos by 20.7% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the medical instruments supplier’s stock valued at $61,000 after buying an additional 189 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Glaukos by 251.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,938 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,387 shares during the period. Finally, First Republic Investment Management Inc. purchased a new position in shares of Glaukos during the first quarter valued at about $244,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

NYSE GKOS opened at $75.40 on Friday. Glaukos has a 52-week low of $36.89 and a 52-week high of $83.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.72 and a quick ratio of 6.23. The company has a market cap of $2.76 billion, a P/E ratio of -203.78 and a beta of 1.57. The stock’s fifty day moving average is $69.77.

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; 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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Get a free copy of the Zacks research report on Glaukos (GKOS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Glaukos (NYSE:GKOS)

Receive News & Ratings for Glaukos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glaukos and related companies with MarketBeat.com's FREE daily email newsletter.