Glaukos (NYSE:GKOS) Given New $113.00 Price Target at Needham & Company LLC

Glaukos (NYSE:GKOS) had its target price lifted by Needham & Company LLC from $108.00 to $113.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company upped their target price on Glaukos from $83.00 to $103.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Truist Financial reaffirmed a buy rating and issued a $110.00 price target on shares of Glaukos in a report on Monday, April 8th. StockNews.com downgraded Glaukos from a hold rating to a sell rating in a research report on Tuesday, February 27th. Citigroup lifted their price target on Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a research report on Monday, March 25th. Finally, Mizuho increased their price objective on Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $107.00.

Glaukos Stock Performance

NYSE GKOS traded up $1.48 during midday trading on Thursday, hitting $106.51. 507,497 shares of the company traded hands, compared to its average volume of 497,055. Glaukos has a 52 week low of $49.19 and a 52 week high of $108.22. The company’s 50-day simple moving average is $93.33 and its 200-day simple moving average is $82.87. The company has a quick ratio of 4.78, a current ratio of 5.38 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million for 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%. Glaukos’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.59) EPS. Equities analysts anticipate that Glaukos will post -2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the sale, the chief operating officer now owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.14, for a total value of $12,922,174.30. Following the sale, the chief operating officer now directly owns 98,388 shares of the company’s stock, valued at $9,065,470.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total value of $441,250.00. Following the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at $2,702,215. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,881 shares of company stock worth $21,965,491. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors have recently modified their holdings of GKOS. Invesco Ltd. grew its holdings in shares of Glaukos by 45.5% during the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after buying an additional 453,756 shares in the last quarter. Norges Bank purchased a new stake in Glaukos during the 4th quarter valued at about $28,807,000. Rhenman & Partners Asset Management AB raised its holdings in Glaukos by 236.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock valued at $24,080,000 after acquiring an additional 225,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Glaukos in the 4th quarter valued at about $15,065,000. Finally, Primecap Management Co. CA lifted its stake in Glaukos by 23.7% in the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after purchasing an additional 151,415 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

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.