Q3 2020 EPS Estimates for Glaukos Corp Reduced by Piper Jaffray Companies (GKOS)
Glaukos Corp (NYSE:GKOS) – Equities research analysts at Piper Jaffray Companies cut their Q3 2020 earnings per share estimates for shares of Glaukos in a report released on Wednesday, November 7th. Piper Jaffray Companies analyst M. O’brien now anticipates that the medical instruments supplier will earn $0.00 per share for the quarter, down from their prior forecast of $0.05. Piper Jaffray Companies has a “Overweight” rating and a $73.00 price target on the stock.
Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, November 7th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The firm had revenue of $43.91 million during the quarter, compared to the consensus estimate of $41.65 million. Glaukos had a negative net margin of 8.13% and a negative return on equity of 9.58%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share.
Shares of Glaukos stock opened at $61.28 on Friday. Glaukos has a one year low of $23.08 and a one year high of $70.91.
In related news, Director Gilbert H. Kliman sold 502,760 shares of Glaukos stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.39, for a total value of $30,361,676.40. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.60% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in GKOS. NumerixS Investment Technologies Inc acquired a new stake in shares of Glaukos in the second quarter valued at about $127,000. Great West Life Assurance Co. Can increased its position in Glaukos by 112.0% during the second quarter. Great West Life Assurance Co. Can now owns 4,240 shares of the medical instruments supplier’s stock worth $172,000 after buying an additional 2,240 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in Glaukos during the second quarter worth approximately $183,000. Prudential Financial Inc. acquired a new position in Glaukos during the third quarter worth approximately $203,000. Finally, Amalgamated Bank acquired a new position in Glaukos during the second quarter worth approximately $205,000.
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.
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