Glaukos Corp. (GKOS) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Glaukos Corp. (NYSE:GKOS) released its earnings results on Thursday. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.00 by $0.03. The firm had revenue of $29.60 million for the quarter, compared to the consensus estimate of $27.21 million. Glaukos Corp. had a return on equity of 2.11% and a net margin of 2.07%. The company’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS.
Shares of Glaukos Corp. (NYSE:GKOS) opened at 34.01 on Monday. The firm has a 50 day moving average price of $35.75 and a 200 day moving average price of $30.88. The stock’s market capitalization is $1.12 billion. Glaukos Corp. has a one year low of $14.25 and a one year high of $39.82.
In related news, insider Chris M. Calcaterra sold 20,000 shares of Glaukos Corp. stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $36.01, for a total transaction of $720,200.00. Following the transaction, the insider now owns 260,000 shares in the company, valued at $9,362,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris M. Calcaterra sold 40,000 shares of Glaukos Corp. stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $34.76, for a total value of $1,390,400.00. Following the transaction, the insider now owns 280,000 shares in the company, valued at approximately $9,732,800. The disclosure for this sale can be found here. 36.80% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in GKOS. Gilder Gagnon Howe & Co. LLC increased its position in shares of Glaukos Corp. by 129.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,141,840 shares of the company’s stock worth $33,296,000 after buying an additional 643,966 shares during the last quarter. Iguana Healthcare Management LLC bought a new position in shares of Glaukos Corp. during the first quarter worth approximately $2,042,000. Swiss National Bank increased its position in shares of Glaukos Corp. by 37.4% in the second quarter. Swiss National Bank now owns 21,300 shares of the company’s stock worth $621,000 after buying an additional 5,800 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Glaukos Corp. during the first quarter worth approximately $10,352,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Glaukos Corp. during the second quarter worth approximately $429,000. Hedge funds and other institutional investors own 64.66% of the company’s stock.
Several equities analysts have recently weighed in on GKOS shares. Zacks Investment Research downgraded Glaukos Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Glaukos Corp. in a research report on Sunday, September 25th. Wells Fargo & Co. started coverage on Glaukos Corp. in a research report on Thursday, October 27th. They issued an “outperform” rating on the stock. Piper Jaffray Cos. upped their price objective on Glaukos Corp. to $42.00 in a research report on Tuesday, August 2nd. Finally, Roth Capital upped their price objective on Glaukos Corp. from $36.50 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $38.80.
About Glaukos Corp.
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.
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