BTIG Research Boosts Glaukos (NYSE:GKOS) Price Target to $112.00

Glaukos (NYSE:GKOS) had its price objective boosted by analysts at BTIG Research from $107.00 to $112.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price target would indicate a potential upside of 5.15% from the stock’s current price.

Other analysts have also recently issued reports about the company. Citigroup upped their price target on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Needham & Company LLC increased their target price on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho increased their target price on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus price target of $107.00.

Glaukos Price Performance

Shares of GKOS stock traded up $1.48 on Thursday, reaching $106.51. The company had a trading volume of 507,497 shares, compared to its average volume of 497,055. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.38. The company has a 50-day moving average of $93.33 and a 200-day moving average of $82.87. Glaukos has a 12 month low of $49.19 and a 12 month high of $108.22.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned ($0.59) earnings per share. As a group, equities research analysts expect that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total transaction of $480,350.00. Following the completion of the transaction, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total value of $480,350.00. Following the completion of the transaction, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at $11,509,378.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alex R. Thurman sold 434 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the transaction, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of Glaukos in the fourth quarter valued at $46,000. GAMMA Investing LLC bought a new position in Glaukos during the fourth quarter worth $55,000. Quadrant Capital Group LLC boosted its position in Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. 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 worth $140,000 after purchasing an additional 1,465 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after purchasing an additional 270 shares during the period. 99.04% of the stock is owned by 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.