|Over a week ago|
Glaukos price target raised to $60 from $50 at Piper Sandler » 04:5408/0708/07/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien raised the firm's price target on Glaukos to $60 from $50 and reiterates an Overweight rating on the shares. The company's Q2 results handily beat expectations as both of its U.S. businesses recovered nicely since the April lows to greater than 80% of pre-COVID levels, and management noted these trends have continued into July, O'Brien tells investors in a research note. Management did portray a "careful tone" noting that future virus spread could dampen patient willingness to return for procedures or receive diagnoses, but the long-term reopening trend remains positive and this commentary "will likely prove overly cautious," says the analyst.
Glaukos can't predict impact of the COVID-19 on results » 16:2008/0608/06/20
The company said,…
The company said, "As previously announced in a press release issued on March 24, 2020, due to the rapidly evolving environment and continued uncertainties from the impact of COVID-19, Glaukos has withdrawn its previously announced annual guidance for 2020, which was issued on February 27, 2020. At this date, Glaukos cannot predict the specific extent, or duration, of the impact of the COVID-19 outbreak on its financial and operating results."
Glaukos reports Q2 EPS (61c), consensus (76c) » 16:1908/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $31.6M, consensus $20.06M. The company's CEO said, "We are encouraged with the initial return of elective procedures around the world and remain well-positioned to provide our essential ophthalmic therapies to our customers and their patients during the ongoing recovery period. I am confident the longer-term fundamental prospects of our business remain strong as we advance our mission to transform the treatment of chronic eye diseases with novel therapies that provide sustainable solutions to important clinical needs."
Proposed CMS rates positive for Glaukos, says Piper Sandler » 04:5808/0508/05/20
The Centers for Medicare…
The Centers for Medicare and Medicaid Services yesterday issued its proposed rule for 2021 for Medicare facility reimbursement in the ambulatory surgery center and hospital outpatient department settings, Piper Sandler analyst Matt O'Brien tells investors in a research note. The analyst views the changes positively for Glaukos, saying that if finalized, the company's iStent reimbursement rate would raise a "healthy couple percentage points" in both settings. He keeps an Overweight rating on the shares with a $50 price target.
|Over a month ago|
Glaukos initiated with a Hold at Jefferies » 06:3306/1506/15/20
Jefferies analyst Anthony…
Jefferies analyst Anthony Petrone initiated coverage of Glaukos with a Hold rating and $44 price target. The company's "deep portfolio" of current and emerging solutions position it to potentially emerge as a lead vision care player, but he starts the stock with a Hold rating to account for uncertainties around near-term MIGS share shift, COVID-19 headwinds, and Glaukos' upcoming Ivantis patent suit, Petrone tells investors.
Glaukos reports proposed private offering of $200M convertible senior notes » 09:1306/0806/08/20
Glaukos Corporation announced that it intends to offer, subject to market and other conditions, $200M aggregate principal amount of Convertible Senior Notes due 2027 in a private offering. The notes will be offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended. Glaukos expects to grant to the initial purchasers of the notes a 13-day option to purchase up to an additional $30M aggregate principal amount of the notes. Glaukos intends to use the net proceeds from the offering to pay the cost of the capped call transactions described below and the remainder for working capital and general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, Glaukos expects to use a portion of the related net proceeds to enter into additional capped call transactions and any remainder for working capital and general corporate purposes.
|Over a quarter ago|
Glaukos price target lowered to $50 from $62 at Piper Sandler » 05:2005/0805/08/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien lowered the firm's price target on Glaukos to $50 from $62 and keeps an Overweight rating on the shares following the company's Q1 results. Not surprisingly, COVID-19 weighed heavily on the company's results in Q1, O'Brien tells investors in a research note. While the near-term outlook is challenged, Glaukos has the pipeline and expertise to become a larger force in ophthalmology, says the anlayst.
Glaukos reports Q1 adjusted EPS (44c), consensus (39c) » 16:1605/0705/07/20
Reports Q1 revenue…
Reports Q1 revenue $55.3M, consensus $59.14M. "I want to recognize the dedication and resiliency of our employees who continue to move our company forward despite unique challenges associated with the COVID-19 pandemic. I also want to express our deep gratitude for the healthcare workers and first responders who are selflessly serving on the frontlines to take care of those in need," said Thomas Burns, Glaukos president and chief executive officer. "In response to COVID-19, Glaukos immediately reviewed and implemented numerous measures to prioritize the health and safety of our employees and their families, support our customers, preserve jobs globally, protect core research and development programs and maintain our strong financial and operating position following the COVID-19 pandemic. While our near-term business trends have been and continue to be materially impacted due to the shift of healthcare systems resources to the treatment of COVID-19 and government restrictions on elective procedures, I am confident the longer-term fundamental prospects of our business remain strong as we advance our mission to transform the treatment of chronic eye diseases with novel therapies that provide sustainable solutions to important clinical needs. We remain well-positioned to provide our essential ophthalmic therapies to customers and their patients as deferred procedures ultimately return in the future as the COVID-19 pandemic subsides."
Wells Fargo says it appears Glaukos won some tentative rulings in patent fight » 10:1805/0605/06/20
Wells Fargo analyst…
Wells Fargo analyst Lawrence Biegelsen said the court presiding over Glaukos' suit against Ivantis for patent infringement apparently posted a tentative ruling on some of the pending motions on Friday, according to the firm's patent consultant. However, "instead of posting it electronically, the Court literally taped it to the door, physically, so the companies have the rulings, but he does not, Biegelsen tells investors. It looks like the court tentatively ruled that Glaukos' full patent can be enforced through 2025, not just the small number of claims that literally cover Glaukos' original stent, but the court "might yet change its mind according to our patent consultant," Biegelsen said. While he doesn't have enough information to report anything definitive yet, it seems likely that Glaukos won several issues in the tentative ruling, added the analyst, who has an Underweight rating on Glaukos shares.
Stephens analysts hold an analyst/industry conference call » 12:5504/1604/16/20
ABMD, ALC, AVNS, BSX, ESTA, GKOS, SIEN, STE, STAA, TFX, EHC, HCA, THC, UNH, UHS
Analysts, along with…
Analysts, along with Darin Hill, CEO of Compass Surgical Partners, hold an Analyst/Industry conference call on April 16 at 1:30 pm.