Brokerages Set Glaukos Co. (NYSE:GKOS) Target Price at $135.45

Glaukos Co. (NYSE:GKOS) has received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $136.18.

Several research analysts have recently commented on the company. BTIG Research boosted their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Monday. Stifel Nicolaus boosted their target price on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. Wellington Management Group LLP increased its position in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after buying an additional 1,630,270 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Glaukos in the 2nd quarter valued at $67,460,000. Primecap Management Co. CA increased its position in shares of Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after buying an additional 372,180 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Glaukos by 148.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after buying an additional 246,322 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Glaukos by 47.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Trading Up 1.7 %

GKOS stock opened at $138.27 on Friday. Glaukos has a 1-year low of $59.58 and a 1-year high of $146.86. The firm has a market cap of $7.62 billion, a P/E ratio of -45.78 and a beta of 1.03. The business’s 50 day moving average is $134.76 and its 200-day moving average is $125.44. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same period in the prior year, the company posted ($0.50) EPS. The company’s revenue was up 23.9% compared to the same quarter last year. Equities analysts anticipate that Glaukos will post -1.91 earnings per share for the current fiscal year.

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.