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Glaukos' (GKOS) Preliminary Q4 Revenues Ride on Product Demand
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Glaukos Corporation (GKOS - Free Report) announced preliminary revenue results for fourth-quarter 2023. The preliminary results drove the company’s shares 0.7% in the trading session on Jan 10.
Per the preliminary report, fourth-quarter 2023 net sales are estimated to be in excess of $81 million, implying year-over-year growth of at least 13.7%. The Zacks Consensus Estimate of $76.6 million lies below the preliminary figure.
For 2023, GKOS estimated revenues in excess of $313 million, indicating a year-over-year increase of 10.7%. The Zacks Consensus Estimate of $309 million lies below the preliminary figure.
Total revenues are expected to be $350-$360 million, implying year-over-year growth of 13-16.5%. The Zacks Consensus Estimate is pegged at $354 million.
A Brief Q4 Analysis
GKOS has launched several products, including iPrime, iAccess and iStent, in the past few quarters, which are aiding its revenue growth. These products, coupled with existing products, are the key driver for the company’s top line in the fourth quarter.
Meanwhile, the company received FDA approval for its glaucoma therapy, iDose TR, in December. The approval is for slow-release 75mcg iDose TR for the reduction of intraocular pressure in patients with ocular hypertension or open-angle glaucoma. Although this product is likely to have immaterial impacts on revenues, operating expenses are expected to have been higher to support the regulatory and launch activities for iDose TR.
Price Performance
Shares of the company rose 5.6% between Oct 1 and Dec 31, 2023, compared with the industry’s 10.1% growth. The S&P 500 gained 10.6% during the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Glaukos carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space areDaVita Inc. (DVA - Free Report) ,Merit Medical Systems, Inc. (MMSI - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 17.3%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 22.1% compared with the industry’s 23.9% growth between Oct 1 and Dec 31, 2023.
Merit Medical, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 11.5%. MMSI’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 14.4%.
Merit Medical’s shares have risen 10.5% compared with the industry’s 7.2% growth between Oct 1 and Dec 31, 2023.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have risen 26.3% compared with the industry’s 10.1% growth between Oct 1 and Dec 31, 2023.
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Glaukos' (GKOS) Preliminary Q4 Revenues Ride on Product Demand
Glaukos Corporation (GKOS - Free Report) announced preliminary revenue results for fourth-quarter 2023. The preliminary results drove the company’s shares 0.7% in the trading session on Jan 10.
Per the preliminary report, fourth-quarter 2023 net sales are estimated to be in excess of $81 million, implying year-over-year growth of at least 13.7%. The Zacks Consensus Estimate of $76.6 million lies below the preliminary figure.
For 2023, GKOS estimated revenues in excess of $313 million, indicating a year-over-year increase of 10.7%. The Zacks Consensus Estimate of $309 million lies below the preliminary figure.
Glaukos Corporation Price
Glaukos Corporation price | Glaukos Corporation Quote
Guidance
Glaukos has provided its 2024 revenue guidance.
Total revenues are expected to be $350-$360 million, implying year-over-year growth of 13-16.5%. The Zacks Consensus Estimate is pegged at $354 million.
A Brief Q4 Analysis
GKOS has launched several products, including iPrime, iAccess and iStent, in the past few quarters, which are aiding its revenue growth. These products, coupled with existing products, are the key driver for the company’s top line in the fourth quarter.
Meanwhile, the company received FDA approval for its glaucoma therapy, iDose TR, in December. The approval is for slow-release 75mcg iDose TR for the reduction of intraocular pressure in patients with ocular hypertension or open-angle glaucoma. Although this product is likely to have immaterial impacts on revenues, operating expenses are expected to have been higher to support the regulatory and launch activities for iDose TR.
Price Performance
Shares of the company rose 5.6% between Oct 1 and Dec 31, 2023, compared with the industry’s 10.1% growth. The S&P 500 gained 10.6% during the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Glaukos carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space areDaVita Inc. (DVA - Free Report) ,Merit Medical Systems, Inc. (MMSI - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 17.3%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 22.1% compared with the industry’s 23.9% growth between Oct 1 and Dec 31, 2023.
Merit Medical, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 11.5%. MMSI’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 14.4%.
Merit Medical’s shares have risen 10.5% compared with the industry’s 7.2% growth between Oct 1 and Dec 31, 2023.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have risen 26.3% compared with the industry’s 10.1% growth between Oct 1 and Dec 31, 2023.