Glaukos (NYSE:GKOS) Posts Earnings Results, Beats Estimates By $0.57 EPS

Key Points

• Glaukos reported quarterly EPS of $0.47, exceeding analysts’ consensus estimate of a $0.10 loss by $0.57. Despite the earnings beat, the company posted a negative net margin of 30.68%.
• Shares traded around $181.47, near the analyst consensus price target of $181.43, with the stock up significantly from its 52-week low of $76.88. Analysts maintain a “Moderate Buy” consensus, with 13 Buy, one Hold and one Sell rating.
• Insiders sold roughly $14.95 million of stock during the quarter, including a 60,000-share sale by COO Joseph Gilliam. Insiders own 5.90% of the company.

Glaukos (NYSE:GKOS - Get Free Report) posted its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.47 EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.57, FiscalAI reports. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.

Glaukos Stock Performance

GKOS stock traded up $0.30 during midday trading on Wednesday, hitting $181.47. The stock had a trading volume of 1,382,659 shares, compared to its average volume of 876,675. Glaukos has a 52 week low of $76.88 and a 52 week high of $191.62. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $171.28 and a 200 day simple moving average of $139.53. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of -55.84 and a beta of 0.69.

Analyst Ratings Changes

A number of brokerages have recently commented on GKOS. Wells Fargo & Company upped their price target on Glaukos from $138.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Jefferies Financial Group raised their price objective on shares of Glaukos from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. Mizuho set a $190.00 price target on shares of Glaukos in a report on Tuesday, October 13th. HC Wainwright increased their price target on shares of Glaukos from $168.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Citigroup raised their price target on shares of Glaukos from $175.00 to $188.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $181.43.

Insider Buying and Selling at Glaukos

In other news, Director Leana Wen sold 525 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the transaction, the director directly owned 21,092 shares of the company's stock, valued at approximately $3,535,651.96. This represents a 2.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph Gilliam sold 60,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the transaction, the chief operating officer owned 72,588 shares in the company, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 83,025 shares of company stock worth $14,950,006. Corporate insiders own 5.90% of the company's stock.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company's principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.

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