Glaukos (NYSE:GKOS) Price Target Raised to $185.00

Glaukos (NYSE:GKOS) had its price objective lifted by Truist Financial from $152.00 to $185.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s price target suggests a potential upside of 28.70% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on GKOS. Stifel Nicolaus increased their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Stephens upgraded shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. 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, December 2nd. Finally, JPMorgan Chase & Co. raised their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.92.

Glaukos Stock Down 1.0 %

Shares of GKOS opened at $143.74 on Wednesday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $137.57 and a two-hundred day moving average price of $127.75. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of -47.60 and a beta of 1.03. Glaukos has a 12 month low of $74.75 and a 12 month high of $148.67.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping 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 business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter last year, the company earned ($0.50) EPS. Glaukos’s revenue was up 23.9% on a year-over-year basis. Equities analysts predict that Glaukos will post -1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in Glaukos during the 3rd quarter worth approximately $25,000. Harvest Fund Management Co. Ltd boosted its position in shares of Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 860 shares in the last quarter. KBC Group NV grew its holdings in shares of Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares during the period. EWA LLC bought a new stake in shares of Glaukos in the 3rd quarter valued at $209,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Glaukos during the 2nd quarter worth $187,000. 99.04% of the stock is currently 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.