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Glaukos Hits a 52-Week High on Positive Estimate Revisions


Share price of Laguna Hills, CA-based Glaukos Corporation GKOS reached a new 52-week high of $35.75 on Sep 15, finally closing lower at $37.42 yesterday. The company gained an impressive 51.56% year to date, way better than the S&P 500’s 5.05% over the same time frame. Over the past one year, the company has added nearly 18.04%.

Meanwhile, we note that Glaukos carries a Zacks Rank #3 (Hold). The stock has a market cap of $1.24 billion.

The company is an attractive growth stock with an impressive one-year projected earnings growth rate of 104.54% as compared to the industry’s average of 14.17%.

GLAUKOS CORP Price and Consensus

GLAUKOS CORP Price and Consensus | GLAUKOS CORP Quote

Estimate revision trend for the company also looks pretty favorable at this moment. In the past 60 days, two estimates have gone up with one downward revision. The trend has been quite favorable with estimates improving from a loss of 4 cents a share to a loss of 2 cents in the past 60 days.

The company’s current year figures also hold promise, with five estimates moving higher over the past two months, compared to one downward revision. The consensus estimate trend has also been encouraging over the same time period, increasing from a loss of 5 cents per share to earnings of 5 cents over the last 60 days.

We note that, in the second quarter, Glaukos reported earnings of 6 cents per share, comparing favorably with the Zacks Consensus Estimate of a loss of 5 cents.

The company also has an impressive Growth Style Score of A. Our Growth Style Score highlights all the vital metrics of the company’s financials to obtain a true picture of the quality and sustainability of its growth. Our research shows that stocks with Style Scores of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) offer the best investment opportunities.

Growth Catalysts

Glaukos’ growth momentum has been considerably significant because of wide acceptance of its flagship product iStent inject Trabecular Micro-Bypass Stent, which was launched in February. The product has been designed to efficiently manage glaucoma patients’ intraocular pressure. In January, international study has reported three-year benefits of iStent in combination with cataract surgery.

The market is also upbeat, since the company has released promising second-quarter results. Net sales rose 61% in the second quarter of 2016 to $28.6 million, compared with $17.8 million of the second quarter of 2015. The upside primarily exhibited increased iStent utilization and the company’s constant urge to expand the body of clinical evidence that demonstrates iStent’s reliable performance. The rise in sales can also be attributed to the company’s initiatives to expand in key international markets.

Zacks Rank & Key Picks

Glaukos currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical product sector are GW Pharmaceuticals plc GWPH, NuVasive, Inc. NUVA and Quidel Corp. QDEL. All these stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

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