Glaukos (NYSE:GKOS) Price Target Raised to $145.00

Glaukos (NYSE:GKOS) had its price objective boosted by Wells Fargo & Company from $135.00 to $145.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

A number of other research analysts also recently issued reports on the company. Morgan Stanley lifted their price target 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 upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Truist Financial increased 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. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Finally, Piper Sandler set a $140.00 target price on shares of Glaukos in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Stock Performance

GKOS stock opened at $127.69 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. Glaukos has a 1-year low of $59.22 and a 1-year high of $139.51. The business has a 50-day moving average price of $129.48 and a 200 day moving average price of $120.20. The company has a market capitalization of $7.02 billion, a P/E ratio of -39.17 and a beta of 1.02.

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

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was 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 owns 102,169 shares in the company, valued at $14,198,425.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,525 shares of company stock valued at $5,142,029 over the last ninety days. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Glaukos in the 2nd quarter valued at about $67,460,000. Primecap Management Co. CA lifted its holdings in Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after acquiring an additional 372,180 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Glaukos by 148.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after acquiring an additional 246,322 shares during the period. Iron Triangle Partners LP boosted its position in Glaukos by 75.6% in the 1st quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after purchasing an additional 184,919 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Glaukos by 24.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock worth $95,112,000 after purchasing an additional 155,653 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.