Glaukos (NYSE:GKOS) Trading 7.6% Higher After Better-Than-Expected Earnings

Glaukos Corporation (NYSE:GKOS)’s share price shot up 7.6% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $159.80 and last traded at $162.7730. 1,496,133 shares were traded during trading, an increase of 73% from the average session volume of 864,024 shares. The stock had previously closed at $151.33.

The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The business had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.33% and a negative net margin of 30.68%.The company’s revenue for the quarter was up 49.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) earnings per share.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GKOS shares. Truist Financial increased their price target on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research note on Friday, July 17th. JPMorgan Chase & Co. upped their target price on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.33.

Insider Transactions at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares of the company’s stock, valued at $7,024,960. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares of the company’s stock, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 40,000 shares of company stock worth $6,028,800. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several institutional investors and hedge funds have recently bought and sold shares of GKOS. Janus Henderson Group PLC boosted its stake in Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after acquiring an additional 2,329,608 shares during the period. Wellington Management Group LLP boosted its stake in shares of Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. State Street Corp raised its position in shares of Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after purchasing an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after purchasing an additional 68,497 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The firm has a market capitalization of $9.83 billion, a PE ratio of -52.04 and a beta of 0.75. The firm has a fifty day moving average price of $137.20 and a 200 day moving average price of $124.78.

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.