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Glaukos (GKOS) Banks on Solid Pipeline Amid Stiff Competition
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On Apr 1, we issued an updated research report on Glaukos Corporation (GKOS - Free Report) . Glaukos’ strong pipeline is indicative of brighter prospects ahead. The company is currently developing several pipeline products — the iStent Infinite, the iStent Supra, the iStent SA, and iDose Travoprost.
The company has an impressive earnings surprise history, having outpaced the Zacks Consensus Estimate in two of the trailing four quarters, the average beat being 29.7%.
A glance at this Zacks Rank #3 (Hold) stock’s price performance shows that shares of Glaukos have gained 88.5% compared with the industry's 4.8% growth in a year’s time. The current level also compares favorably with the S&P 500 index's 4.4% decline over the same time frame.
Glaukos’ flagship, iStent, is the first FDA-approved surgical device available for insertion in conjunction with cataract surgery. This is done to reduce intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma. It is a micro-scale MIGS treatment solution.
Currently, the iStent procedure is reimbursed in the United States by Medicare and all major national private payors. It is also commercially available in certain European Union countries, Brazil, Canada, Australia, Japan and other countries.
By the end of fourth-quarter 2018, Glaukos announced that the company has already initiated patient enrolment of key U.S. pivotal clinical studies for iDose Travoprost and iStent infinite. Management at Glaukos remains optimistic about the iStent platform worldwide, including emerging economies.
However, the stringent regulatory approval process for the iDose platform is concerning.
Cutthroat competition in the medical-device industry is an added headwind. Glaukos’ competitors include medical companies, academic and research institutions or others that develop new drugs, therapies, medical devices or surgical procedures to treat glaucoma.
Estimate Revision
The Zacks Consensus Estimate for 2019 is pegged at a loss of 33 cents. The same for revenues stands at $226.4 million, mirroring a 24.9% improvement year over year.
Despite cutthroat competition in the niche markets, Glaukos is likely to witness solid growth in the coming days. The company's long-term earnings growth rate of 32.7% also supports this view.
This apart, the company has an impressive Growth Style Score of B. Our Growth Style Score highlights all the vital metrics of a company’s financials to obtain a clearer picture of the quality and sustainability of its growth. Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 offer the best investment opportunities.
Penumbra delivered a positive earnings surprise in each of the trailing four quarters, the average being 321.2%.
Fluidigm has a long-term earnings growth rate of 25%.
Tactile Systems has a long-term earnings growth rate of 20%.
Today's Best Stocks from Zacks
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This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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Glaukos (GKOS) Banks on Solid Pipeline Amid Stiff Competition
On Apr 1, we issued an updated research report on Glaukos Corporation (GKOS - Free Report) . Glaukos’ strong pipeline is indicative of brighter prospects ahead. The company is currently developing several pipeline products — the iStent Infinite, the iStent Supra, the iStent SA, and iDose Travoprost.
The company has an impressive earnings surprise history, having outpaced the Zacks Consensus Estimate in two of the trailing four quarters, the average beat being 29.7%.
A glance at this Zacks Rank #3 (Hold) stock’s price performance shows that shares of Glaukos have gained 88.5% compared with the industry's 4.8% growth in a year’s time. The current level also compares favorably with the S&P 500 index's 4.4% decline over the same time frame.
Glaukos’ flagship, iStent, is the first FDA-approved surgical device available for insertion in conjunction with cataract surgery. This is done to reduce intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma. It is a micro-scale MIGS treatment solution.
Currently, the iStent procedure is reimbursed in the United States by Medicare and all major national private payors. It is also commercially available in certain European Union countries, Brazil, Canada, Australia, Japan and other countries.
By the end of fourth-quarter 2018, Glaukos announced that the company has already initiated patient enrolment of key U.S. pivotal clinical studies for iDose Travoprost and iStent infinite. Management at Glaukos remains optimistic about the iStent platform worldwide, including emerging economies.
However, the stringent regulatory approval process for the iDose platform is concerning.
Cutthroat competition in the medical-device industry is an added headwind. Glaukos’ competitors include medical companies, academic and research institutions or others that develop new drugs, therapies, medical devices or surgical procedures to treat glaucoma.
Estimate Revision
The Zacks Consensus Estimate for 2019 is pegged at a loss of 33 cents. The same for revenues stands at $226.4 million, mirroring a 24.9% improvement year over year.
Glaukos Corporation Price and Consensus
Glaukos Corporation Price and Consensus | Glaukos Corporation Quote
Bottom Line
Despite cutthroat competition in the niche markets, Glaukos is likely to witness solid growth in the coming days. The company's long-term earnings growth rate of 32.7% also supports this view.
This apart, the company has an impressive Growth Style Score of B. Our Growth Style Score highlights all the vital metrics of a company’s financials to obtain a clearer picture of the quality and sustainability of its growth. Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 offer the best investment opportunities.
Key Picks
A few better-ranked stocks from the MedTech space are Penumbra, Inc. (PEN - Free Report) , Fluidigm Corporation and Tactile Systems Technology, Inc. (TCMD - Free Report) , each carrying a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra delivered a positive earnings surprise in each of the trailing four quarters, the average being 321.2%.
Fluidigm has a long-term earnings growth rate of 25%.
Tactile Systems has a long-term earnings growth rate of 20%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>