Glaukos Co. Forecasted to Earn Q1 2023 Earnings of ($0.68) Per Share (NYSE:GKOS)

Glaukos Co. (NYSE:GKOS – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for shares of Glaukos in a research note issued to investors on Wednesday, February 22nd. Jefferies Financial Group analyst Z. Weiner forecasts that the medical instruments supplier will post earnings per share of ($0.68) for the quarter. The consensus estimate for Glaukos’ current full-year earnings is ($2.25) per share. Jefferies Financial Group also issued estimates for Glaukos’ FY2023 earnings at ($2.47) EPS and FY2024 earnings at ($0.67) EPS.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Glaukos from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research report on Thursday. Mizuho began coverage on Glaukos in a research report on Thursday, December 22nd. They set a “neutral” rating and a $48.00 price target on the stock. Citigroup upped their price target on Glaukos from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on Glaukos from $56.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.67.

Glaukos Stock Down 2.6 %

GKOS opened at $47.60 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.13 and a quick ratio of 6.84. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -22.78 and a beta of 1.21. The business has a 50-day moving average of $47.40 and a two-hundred day moving average of $49.87. Glaukos has a 12 month low of $33.33 and a 12 month high of $64.49.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Glaukos by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock worth $286,470,000 after buying an additional 23,473 shares during the period. State Street Corp grew its stake in shares of Glaukos by 1.0% during the second quarter. State Street Corp now owns 1,698,257 shares of the medical instruments supplier’s stock worth $77,135,000 after purchasing an additional 16,315 shares during the period. Braidwell LP acquired a new stake in shares of Glaukos during the fourth quarter worth $72,590,000. Fred Alger Management LLC lifted its holdings in Glaukos by 34.3% during the third quarter. Fred Alger Management LLC now owns 1,402,110 shares of the medical instruments supplier’s stock worth $74,648,000 after acquiring an additional 358,360 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Glaukos by 13.8% during the second quarter. Point72 Asset Management L.P. now owns 1,321,902 shares of the medical instruments supplier’s stock worth $60,041,000 after acquiring an additional 160,347 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

About Glaukos

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Glaukos Corp. is an ophthalmic medical technology and pharmaceutical company, which focuses on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. It engages in development and commercialization of therapies across several end markets within ophthalmology. The company was founded by Olav B.