Glaukos Corp Forecasted to Post Q1 2020 Earnings of $0.06 Per Share (GKOS)

Glaukos Corp (NYSE:GKOS) – Investment analysts at Piper Jaffray Companies issued their Q1 2020 EPS estimates for Glaukos in a research note issued on Sunday, October 28th. Piper Jaffray Companies analyst M. O’brien expects that the medical instruments supplier will post earnings of $0.06 per share for the quarter. Piper Jaffray Companies currently has a “Overweight” rating and a $73.00 target price on the stock. Piper Jaffray Companies also issued estimates for Glaukos’ Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.05 EPS and FY2020 earnings at $0.23 EPS.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $43.16 million for the quarter, compared to analyst estimates of $40.51 million. Glaukos had a negative return on equity of 4.11% and a negative net margin of 3.49%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) earnings per share.

Several other brokerages also recently issued reports on GKOS. Stifel Nicolaus upped their price target on shares of Glaukos from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Stephens reiterated an “overweight” rating and set a $57.00 price target on shares of Glaukos in a report on Wednesday, August 29th. BMO Capital Markets upped their price target on shares of Glaukos from $59.00 to $62.00 and gave the stock a “market perform” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded Glaukos from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, August 7th. Finally, Berenberg Bank started coverage on Glaukos in a report on Thursday, August 30th. They issued a “hold” rating and a $57.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $58.20.

Shares of NYSE:GKOS opened at $56.25 on Tuesday. Glaukos has a 52-week low of $23.08 and a 52-week high of $70.91.

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Waddell & Reed Financial Inc. boosted its position in Glaukos by 68.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,115,815 shares of the medical instruments supplier’s stock valued at $45,346,000 after acquiring an additional 453,167 shares during the last quarter. BlackRock Inc. boosted its position in Glaukos by 20.5% during the second quarter. BlackRock Inc. now owns 2,416,215 shares of the medical instruments supplier’s stock valued at $98,197,000 after acquiring an additional 411,836 shares during the last quarter. Rhenman & Partners Asset Management AB bought a new stake in Glaukos during the second quarter valued at $14,630,000. FMR LLC boosted its position in Glaukos by 19.3% during the second quarter. FMR LLC now owns 1,056,162 shares of the medical instruments supplier’s stock valued at $42,923,000 after acquiring an additional 171,092 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Glaukos by 18.8% during the second quarter. Renaissance Technologies LLC now owns 601,200 shares of the medical instruments supplier’s stock valued at $24,433,000 after acquiring an additional 95,300 shares during the last quarter.

In other Glaukos news, Director Gilbert H. Kliman sold 502,760 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $60.39, for a total transaction of $30,361,676.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Chris M. Calcaterra sold 38,983 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $44.44, for a total transaction of $1,732,404.52. Following the sale, the chief operating officer now directly owns 278,983 shares in the company, valued at approximately $12,398,004.52. The disclosure for this sale can be found here. Insiders sold 691,743 shares of company stock valued at $37,911,081 over the last 90 days. 11.60% of the stock is currently owned by company insiders.

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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