$40.78 Million in Sales Expected for Glaukos Corp (GKOS) This Quarter

Wall Street brokerages expect that Glaukos Corp (NYSE:GKOS) will report $40.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Glaukos’ earnings. The highest sales estimate is $41.70 million and the lowest is $39.63 million. Glaukos posted sales of $41.29 million during the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The company is expected to report its next earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Glaukos will report full-year sales of $163.80 million for the current fiscal year, with estimates ranging from $163.10 million to $164.90 million. For the next year, analysts anticipate that the company will report sales of $184.65 million per share, with estimates ranging from $177.02 million to $193.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Glaukos.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, May 9th. The medical instruments supplier reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Glaukos had a negative net margin of 2.25% and a positive return on equity of 1.22%. The company had revenue of $40.10 million for the quarter, compared to analyst estimates of $37.63 million. During the same quarter last year, the business earned $0.02 earnings per share. Glaukos’s revenue was up 11.7% compared to the same quarter last year.



Several equities research analysts have commented on GKOS shares. Stifel Nicolaus dropped their price target on shares of Glaukos from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Stephens reiterated a “buy” rating and set a $36.00 price objective on shares of Glaukos in a research note on Thursday, March 1st. William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Friday, March 23rd. Cantor Fitzgerald set a $43.00 price objective on shares of Glaukos and gave the company a “buy” rating in a research note on Friday, March 23rd. Finally, Canaccord Genuity lowered their price objective on shares of Glaukos from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.13.

Shares of NYSE:GKOS opened at $43.83 on Tuesday. Glaukos has a 52 week low of $23.08 and a 52 week high of $44.76. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 860.40 and a beta of 1.08.

In related news, COO Chris M. Calcaterra sold 8,771 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $44.01, for a total transaction of $386,011.71. Following the transaction, the chief operating officer now owns 248,771 shares in the company, valued at $10,948,411.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.60% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Glaukos by 2.4% during the first quarter. BlackRock Inc. now owns 2,004,379 shares of the medical instruments supplier’s stock worth $61,795,000 after buying an additional 47,265 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Glaukos by 7.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,979,960 shares of the medical instruments supplier’s stock worth $50,786,000 after buying an additional 137,969 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Glaukos by 15.4% during the first quarter. Baillie Gifford & Co. now owns 1,119,613 shares of the medical instruments supplier’s stock worth $34,518,000 after buying an additional 149,334 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in Glaukos by 75.7% during the first quarter. Federated Investors Inc. PA now owns 790,750 shares of the medical instruments supplier’s stock worth $24,379,000 after buying an additional 340,696 shares in the last quarter. Finally, Cortina Asset Management LLC bought a new stake in Glaukos during the first quarter worth approximately $20,644,000.

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.

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Earnings History and Estimates for Glaukos (NYSE:GKOS)

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