Here's Why You Should Retain Glaukos Stock in Your Portfolio

Glaukos Corporation GKOS is well-poised for growth on the back of the iDose TR launch and a robust product pipeline. However, stiff competition is a concern.

Shares of this Zacks Rank #3 (Hold) company have lost 29.7% so far this year against the industry’s 6% growth. The S&P 500 Index has increased 18.3% in the same time frame.

Glaukos, with a market capitalization of $6.05 billion, is a leading ophthalmic medical technology and pharmaceutical company. The company has a trailing four-quarter average earnings surprise of 22.19%.

Key Catalysts

iDose TR Launch Gaining Traction: iDose TR generated nearly $40 million in third-quarter sales, reflecting strong momentum since its U.S. launch. Surgeon adoption and utilization continue to expand, supported by positive clinical outcomes and growing reimbursement coverage across several Medicare Administrative Contractors (MACs). More than 80% of iDose volume in the quarter came from regions with established professional fee schedules, demonstrating how reimbursement progress accelerates uptake. Glaukos is scaling physician training, expanding market access, and investing in awareness, establishing iDose TR as a foundational therapy in glaucoma care and a major driver of revenue growth.

Strong Pipeline to Support Long-Term Growth: Glaukos is advancing a diverse pipeline across glaucoma, corneal health and retinal disease, with several programs positioned to drive long-term growth. Its next-generation sustained-release glaucoma candidates, iDose TREX, iDose ROCK and iLution Travoprost, are progressing through clinical development, building on the December 2023 FDA approval of iDose TR. The approved iDose TR implant showed strong tolerability and a favorable safety profile over 12 months.

Meanwhile, pivotal studies continue for iStent Infinite and PRESERFLO MicroShunt, and iDose TREX is now in Phase IIb/III. In corneal health, Epioxa is under FDA review with an expected 2026 launch, and Phase II work is underway for third-generation iLink. Glaukos also plans to move its optimized iDose Trio applicator into U.S. trials by late 2025, targeting approval in 2027.

The company is broadening its reach beyond glaucoma as well, with early-stage programs like GLK-401 for wet AMD and an iLution-based therapy for Demodex blepharitis. Its growth prospects are further strengthened by strategic moves such as the Mobius Therapeutics acquisition and external partnerships. Notably, Glaukos licensed technology from iVeena Delivery Systems in 2022 to support keratoconus development efforts, and earlier, in 2021, secured rights from Attillaps Holdings to advance investigational compounds aimed at eliminating Demodex mites and related ophthalmic conditions.

What’s Hurting GKOS?

Glaukos continues to navigate reimbursement hurdles. The 5 MAC LCD restrictions, limiting the use of two MIGS devices in a procedure, remain a headwind through 2025. While iDose TR reimbursement is expanding, progress varies by region, with Novitas, Noridian and First Coast leading adoption.

Proposed 2026 CMS rules would modestly raise facility fees but cut physician fees across ophthalmology, pressuring legacy MIGS economics. However, Category III stand-alone therapies like iDose TR and iStent Infinite remain unaffected. Glaukos is actively engaged in advocacy to mitigate reimbursement challenges and protect access to its innovations.

Estimate Trend

The bottom-line estimate for GKOS is pegged at a loss of 84 cents for 2025, which narrowed by 6 cents in the past 30 days. The Zacks Consensus Estimate for 2025 revenues is pinned at $492.9 million.

Stocks to Consider

Some better-ranked stocks from the broader medical space are Medpace Holdings MEDP, Intuitive Surgical ISRG and Boston Scientific BSX.

Medpace, currently sporting a Zacks Rank #1 (Strong Buy), reported a third-quarter 2025 EPS of $3.86, which surpassed the Zacks Consensus Estimate by 10.29%. Revenues of $659.9 million beat the Zacks Consensus Estimate by 3.04%. You can see the complete list of today’s Zacks #1 Rank stocks here.

MEDP has an estimated earnings growth rate of 17.1% for 2025 compared with the industry’s 16.6% growth. The company beat earnings estimates in each of the trailing four quarters, the average surprise being 14.28%.

Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, posted a third-quarter 2025 adjusted EPS of $2.40, exceeding the Zacks Consensus Estimate by 20.6%. Revenues of $2.51 billion topped the Zacks Consensus Estimate by 3.9%.

ISRG has an estimated long-term earnings growth rate of 15.7% compared with the industry’s 11.9% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.34%.

Boston Scientific, currently carrying a Zacks Rank #2, reported a third-quarter 2025 adjusted EPS of 75 cents, which surpassed the Zacks Consensus Estimate by 5.6%. Revenues of $5.07 billion outperformed the Zacks Consensus Estimate by 1.9%.

BSX has an estimated long-term earnings growth rate of 16.4% compared with the industry’s 13.5% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 7.36%.

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This article originally published on Zacks Investment Research (zacks.com).

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