Glaukos (NYSE:GKOS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Glaukos (NYSE:GKOS) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $130.00 to $145.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.97% from the company’s current price.

A number of other analysts also recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BTIG Research lifted their price objective on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their target price on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Truist Financial boosted their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $1.88 during midday trading on Tuesday, reaching $129.50. The company’s stock had a trading volume of 761,733 shares, compared to its average volume of 571,756. 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 stock has a fifty day moving average of $129.64 and a 200 day moving average of $119.98. Glaukos has a twelve month low of $59.22 and a twelve month high of $139.51. The firm has a market capitalization of $7.12 billion, a PE ratio of -39.72 and a beta of 1.02.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. The company’s revenue was up 23.9% compared to the same quarter last year. On average, equities analysts expect that Glaukos will post -2.16 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $13,216,581.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,525 shares of company stock worth $5,142,029. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new position in shares of Glaukos during the third quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos during the 2nd quarter worth $187,000. Brighton Jones LLC acquired a new position in Glaukos in the second quarter valued at $208,000. Finally, Procyon Advisors LLC purchased a new stake in shares of Glaukos in the third quarter valued at about $210,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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.