Truist Financial Raises Glaukos (NYSE:GKOS) Price Target to $152.00

Glaukos (NYSE:GKOS) had its price objective increased by equities research analysts at Truist Financial from $145.00 to $152.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s price target would suggest a potential upside of 18.81% from the company’s current price.

A number of other research analysts also recently weighed in on GKOS. Morgan Stanley raised their price objective on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC raised their price objective on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Wells Fargo & Company raised their price objective on Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Piper Sandler raised their price objective on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.45.

Glaukos Trading Up 0.8 %

Shares of NYSE GKOS traded up $1.04 during mid-day trading on Monday, hitting $127.94. 41,417 shares of the company traded hands, compared to its average volume of 573,308. Glaukos has a 1 year low of $59.22 and a 1 year high of $136.60. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -44.40 and a beta of 1.02. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $127.11 and a two-hundred day moving average of $115.98.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same period last year, the company posted ($0.55) EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Glaukos will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,250 shares of company stock worth $4,825,873. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GKOS. Fisher Asset Management LLC acquired a new position in shares of Glaukos during the fourth quarter worth about $216,000. SteelPeak Wealth LLC acquired a new position in Glaukos during the first quarter valued at approximately $343,000. Allspring Global Investments Holdings LLC boosted its position in Glaukos by 127.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock valued at $15,657,000 after purchasing an additional 93,076 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its position in Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in Glaukos by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 42,709 shares of the medical instruments supplier’s stock valued at $4,027,000 after purchasing an additional 622 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

About Glaukos

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.