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Glaukos (GKOS) Stock Jumps 3.7%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

Glaukos (GKOS) shares rallied 3.7% in the last trading session to close at $116.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.9% gain over the past four weeks.

Shares of Glaukos has been rising for the past one and a half years on the back of robust demand for its products, especially iStent. The recent price rise is likely due to positive sentiments of investors that is likely to continue.

This glaucoma treatments developer is expected to post quarterly loss of $0.51 per share in its upcoming report, which represents a year-over-year change of +7.3%. Revenues are expected to be $88.41 million, up 10% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Glaukos, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GKOS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Glaukos is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Teleflex (TFX), finished the last trading session 0.7% higher at $200.03. TFX has returned -2.9% over the past month.

Teleflex's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.33. Compared to the company's year-ago EPS, this represents a change of -2.4%. Teleflex currently boasts a Zacks Rank of #3 (Hold).

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Glaukos Corporation (GKOS) : Free Stock Analysis Report

Teleflex Incorporated (TFX) : Free Stock Analysis Report

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Zacks Investment Research