Is This Why Glaukos Corp. Is Tumbling Today?
Shares of Glaukos (NYSE: GKOS), a medical-device company focused on glaucoma, fell 12% as of 3:25 p.m. EST on Tuesday on heavy volume. However, there wasn't any news that can help to explain the move.
Glaukos shares have been under pressure ever since management knocked down the company's growth projections in September.
Once upon a time, management was projecting that full-year sales would land between $162 million to $167 million. That range implied growth of 44% at the midpoint. However, the company later stated that changes in the reimbursement environment, hurricanes, and competitive pressure were going to make it hard for the company to hit that number. As a result, they dialed back their revenue guidance range to $155 million to $160 million. While that still represents strong year-over-year growth, Wall Street didn't take the update well.
Source: Fool.com
