Brokers Set Expectations for Glaukos Co.’s Q1 2024 Earnings (NYSE:GKOS)

Glaukos Co. (NYSE:GKOSFree Report) – Equities research analysts at Zacks Research lowered their Q1 2024 EPS estimates for Glaukos in a research report issued to clients and investors on Wednesday, March 13th. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will earn ($0.62) per share for the quarter, down from their previous estimate of ($0.58). The consensus estimate for Glaukos’ current full-year earnings is ($2.12) per share. Zacks Research also issued estimates for Glaukos’ Q2 2024 earnings at ($0.53) EPS, Q3 2024 earnings at ($0.52) EPS, Q4 2024 earnings at ($0.62) EPS, FY2024 earnings at ($2.29) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.41) EPS and FY2025 earnings at ($1.73) EPS.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their target price on shares of Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC raised their price objective on shares of Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Piper Sandler raised their price objective on shares of Glaukos from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Finally, Truist Financial reissued a “buy” rating and set a $100.00 price objective on shares of Glaukos in a research note on Friday, December 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $91.80.

Read Our Latest Research Report on Glaukos

Glaukos Trading Down 0.0 %

Shares of Glaukos stock opened at $85.45 on Monday. Glaukos has a 12-month low of $45.38 and a 12-month high of $97.24. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. The stock has a market cap of $4.23 billion, a PE ratio of -30.74 and a beta of 1.08. The company has a 50-day moving average of $90.48 and a two-hundred day moving average of $77.65.

Glaukos (NYSE:GKOSGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $81.00 million. During the same quarter in the previous year, the business earned ($0.53) EPS. Glaukos’s revenue for the quarter was up 15.7% on a year-over-year basis.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 583 shares of Glaukos stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $85.14, for a total value of $49,636.62. Following the transaction, the chief financial officer now owns 55,242 shares in the company, valued at approximately $4,703,303.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of Glaukos stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total value of $12,922,174.30. Following the transaction, the chief operating officer now owns 98,388 shares in the company, valued at approximately $9,065,470.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 583 shares of Glaukos stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $85.14, for a total transaction of $49,636.62. Following the transaction, the chief financial officer now owns 55,242 shares in the company, valued at approximately $4,703,303.88. The disclosure for this sale can be found here. Insiders have sold a total of 351,450 shares of company stock worth $31,068,090 in the last quarter. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI purchased a new stake in Glaukos during the 4th quarter worth $46,000. GAMMA Investing LLC purchased a new stake in Glaukos during the 4th quarter worth $55,000. Tower Research Capital LLC TRC increased its stake in Glaukos by 257.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,238 shares of the medical instruments supplier’s stock worth $62,000 after buying an additional 892 shares during the period. Silverarc Capital Management LLC purchased a new stake in Glaukos during the 2nd quarter worth $71,000. Finally, Quadrant Capital Group LLC increased its stake in Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.

Further Reading

Earnings History and Estimates for Glaukos (NYSE:GKOS)

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