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Investing.com - Mizuho (NYSE:MFG) lowered its price target on Glaukos Corporation (NYSE:GKOS) to $130 from $150 while maintaining an Outperform rating on Thursday. Currently trading at $89.21, the stock sits between analyst targets ranging from $72 to $165, with InvestingPro data indicating the stock is currently overvalued based on its proprietary Fair Value model.
The medical technology company reported quarterly results that exceeded expectations with a $9 million revenue beat and earnings per share $0.02 above estimates. The positive performance was primarily driven by $31 million in U.S. iDose sales, which offset impacts to U.S. MIGS and Corneal segments from recent reimbursement changes. According to InvestingPro data, Glaukos maintains strong revenue growth of 23.9% over the last twelve months, with an impressive gross profit margin of 75.8%.
Glaukos raised its fiscal year 2025 revenue guidance to $480-486 million from the previous $475-485 million, representing 25-26% year-over-year growth. This updated outlook reflects approximately $128 million in implied U.S. iDose sales, slightly higher than the prior estimate of $125 million.
The company maintained its forecast for mid-single-digit declines in U.S. MIGS due to reimbursement headwinds. It also revised its U.S. Corneal segment outlook to low-single-digit declines to flat growth, compared to the previous projection of flat to low-single-digit growth, citing Medicaid Drug Rebate Program challenges and patients waiting for next-generation Epioxa therapy in 2026.
Mizuho noted that qualitative comments from Glaukos align with key opinion leader checks, suggesting an accelerating adoption scenario as reimbursement settles at Medicare Administrative Contractors (MACs), supporting the firm’s projection of an iDose sales ramp despite near-term portfolio dynamics.
In other recent news, Glaukos Corp reported its Q2 2025 earnings, surpassing both earnings per share (EPS) and revenue estimates. The company achieved an EPS of -$0.24, which was better than the projected -$0.26, showing a 7.69% positive surprise. Revenue reached $124.1 million, exceeding the anticipated $115.52 million by 7.35%. Despite these favorable results, the stock saw a minor dip in aftermarket trading. These developments highlight the company’s stronger-than-expected financial performance. Investors often look to such earnings and revenue figures to gauge a company’s health. Analyst firms frequently adjust their ratings based on these metrics, although specific upgrades or downgrades were not mentioned in this context.
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