Glaukos (NYSE:GKOS) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Glaukos (NYSE:GKOS) released its quarterly earnings data on Tuesday. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05), FiscalAI reports. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million.

Glaukos Stock Performance

GKOS traded down $2.39 during midday trading on Tuesday, reaching $107.08. The company had a trading volume of 1,243,733 shares, compared to its average volume of 820,911. The business has a 50-day moving average of $114.66 and a two-hundred day moving average of $98.20. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. Glaukos has a 1 year low of $73.16 and a 1 year high of $161.78. The company has a market cap of $6.15 billion, a P/E ratio of -69.53 and a beta of 0.70.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens boosted their target price on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Glaukos in a research report on Wednesday, January 14th. William Blair raised Glaukos to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Thursday, January 22nd. Finally, UBS Group upped their price target on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.54.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of Glaukos stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 10,498 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the completion of the sale, the chief operating officer directly owned 92,366 shares of the company’s stock, valued at approximately $11,793,290.88. This trade represents a 10.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 310,315 shares of company stock worth $36,011,634 in the last quarter. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Glaukos during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in Glaukos by 16.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 136 shares during the period. Kestra Advisory Services LLC purchased a new stake in Glaukos during the 4th quarter valued at approximately $128,000. Van ECK Associates Corp raised its position in shares of Glaukos by 24.2% during the third quarter. Van ECK Associates Corp now owns 1,738 shares of the medical instruments supplier’s stock valued at $142,000 after buying an additional 339 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Glaukos by 6.9% in the third quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier’s stock worth $202,000 after buying an additional 176 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.