Brokerages Expect Glaukos Corp (GKOS) Will Announce Earnings of -$0.13 Per Share

Wall Street analysts forecast that Glaukos Corp (NYSE:GKOS) will report earnings per share of ($0.13) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Glaukos’ earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.24). Glaukos posted earnings per share of $0.06 in the same quarter last year, which would indicate a negative year over year growth rate of 316.7%. The firm is expected to report its next earnings results on Wednesday, August 1st.

On average, analysts expect that Glaukos will report full year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.70) to ($0.29). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.34) to $0.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Glaukos.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, May 9th. The medical instruments supplier reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $37.63 million. During the same period in the prior year, the firm posted $0.02 EPS. Glaukos’s revenue for the quarter was up 11.7% on a year-over-year basis.

GKOS has been the topic of several research analyst reports. Stephens restated a “buy” rating and set a $36.00 target price on shares of Glaukos in a research note on Thursday, March 1st. Stifel Nicolaus lowered their target price 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. Cantor Fitzgerald set a $43.00 price objective on shares of Glaukos and gave the stock a “buy” rating in a research note on Wednesday, February 28th. ValuEngine upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Finally, William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Thursday, March 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Glaukos currently has a consensus rating of “Buy” and a consensus price target of $40.38.

Glaukos traded up $0.12, hitting $34.62, during midday trading on Monday, according to Marketbeat.com. 315,468 shares of the company traded hands, compared to its average volume of 467,638. The stock has a market capitalization of $1.20 billion, a P/E ratio of 690.00 and a beta of 1.04. Glaukos has a 52 week low of $23.08 and a 52 week high of $44.76.

In other Glaukos news, Director Jonathan Silverstein sold 464,583 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $32.29, for a total transaction of $15,001,385.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orbimed Advisors Llc sold 836,500 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $32.02, for a total transaction of $26,784,730.00. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. AdvisorNet Financial Inc lifted its position in Glaukos by 470.4% in the first quarter. AdvisorNet Financial Inc now owns 5,362 shares of the medical instruments supplier’s stock worth $165,000 after buying an additional 4,422 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in Glaukos in the first quarter valued at approximately $268,000. Meadow Creek Investment Management LLC acquired a new position in Glaukos in the fourth quarter valued at approximately $336,000. MetLife Investment Advisors LLC acquired a new position in Glaukos in the fourth quarter valued at approximately $349,000. Finally, Wrapmanager Inc. raised its stake in shares of Glaukos by 38.7% during the 1st quarter. Wrapmanager Inc. now owns 11,436 shares of the medical instruments supplier’s stock worth $353,000 after buying an additional 3,188 shares during the period.

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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