Morgan Stanley Boosts Glaukos (NYSE:GKOS) Price Target to $120.00

Glaukos (NYSE:GKOS) had its price objective boosted by Morgan Stanley from $100.00 to $120.00 in a report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also issued reports on GKOS. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a report on Saturday, July 13th. Truist Financial reaffirmed a buy rating and set a $125.00 target price (up from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Glaukos from a hold rating to a buy rating and boosted their price target for the stock from $84.00 to $125.00 in a research note on Monday, May 6th. Wells Fargo & Company raised their price objective on Glaukos from $110.00 to $120.00 and gave the company an overweight rating in a research report on Monday, June 3rd. Finally, BTIG Research lifted their target price on Glaukos from $112.00 to $131.00 and gave the stock a buy rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Glaukos has a consensus rating of Moderate Buy and an average target price of $120.64.

Glaukos Stock Down 1.2 %

Shares of GKOS stock opened at $124.14 on Monday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -43.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. The company’s fifty day moving average price is $114.30 and its 200-day moving average price is $99.96. Glaukos has a one year low of $59.22 and a one year high of $126.96.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. Glaukos’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.59) earnings per share. Sell-side analysts expect that Glaukos will post -2.24 EPS for the current fiscal year.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 2,059 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.52, for a total value of $217,265.68. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at $10,746,684.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the transaction, the chief operating officer now owns 101,845 shares in the company, valued at $12,362,964.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 2,059 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $105.52, for a total transaction of $217,265.68. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $10,746,684.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,444 shares of company stock valued at $2,411,171. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently modified their holdings of the business. Trust Point Inc. purchased a new stake in Glaukos during the fourth quarter worth $555,000. International Assets Investment Management LLC purchased a new stake in shares of Glaukos during the 4th quarter worth $259,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Glaukos by 2.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock valued at $1,951,000 after purchasing an additional 610 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Glaukos by 3,894.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 72,978 shares of the medical instruments supplier’s stock valued at $5,801,000 after purchasing an additional 71,151 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Glaukos in the fourth quarter worth about $1,940,000. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.