Glaukos (NYSE:GKOS) Sees Strong Trading Volume After Strong Earnings

Shares of Glaukos Corporation (NYSE:GKOS) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 1,085,530 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 959,161 shares.The stock last traded at $98.9250 and had previously closed at $77.09.

The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.53%. The company had revenue of $133.54 million during the quarter, compared to the consensus estimate of $122.55 million. During the same period in the previous year, the firm posted ($0.28) EPS. The firm’s revenue was up 38.1% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GKOS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report on Wednesday, October 8th. William Blair upgraded shares of Glaukos to a “strong-buy” rating in a research report on Thursday, July 31st. BTIG Research boosted their price objective on shares of Glaukos from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial set a $120.00 price objective on shares of Glaukos in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on shares of Glaukos from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $118.62.

Institutional Investors Weigh In On Glaukos

A number of large investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC boosted its stake in shares of Glaukos by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier’s stock valued at $769,000 after purchasing an additional 117 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Glaukos by 16.2% during the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 136 shares in the last quarter. Bessemer Group Inc. boosted its stake in Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 158 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 159 shares in the last quarter. Finally, Park Place Capital Corp boosted its stake in Glaukos by 68.4% during the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock worth $41,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The firm’s 50 day moving average is $85.55 and its 200 day moving average is $91.57. The firm has a market cap of $5.06 billion, a P/E ratio of -57.28 and a beta of 0.76.

Glaukos Company Profile

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