Truist Financial Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its target price increased by stock analysts at Truist Financial from $152.00 to $185.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s target price would suggest a potential upside of 26.89% from the stock’s previous close.

GKOS has been the topic of a number of other reports. Stifel Nicolaus upped their price objective on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group started coverage on Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Finally, Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $145.92.

Glaukos Price Performance

Shares of GKOS stock traded down $0.56 during trading hours on Wednesday, reaching $145.79. The company had a trading volume of 20,714 shares, compared to its average volume of 568,263. The stock has a fifty day moving average of $136.61 and a 200-day moving average of $127.28. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of -48.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos has a 12-month low of $74.75 and a 12-month high of $147.65.

Glaukos (NYSE:GKOS) last posted its quarterly 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 for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the previous year, the firm earned ($0.50) EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities analysts anticipate that Glaukos will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the 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 sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in shares of Glaukos in the third quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd grew its stake in shares of Glaukos by 2,263.2% during the 3rd 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 during the period. KBC Group NV increased 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 purchasing an additional 201 shares in the last quarter. EWA LLC acquired a new stake in shares of Glaukos in the third quarter valued at about $209,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the second quarter valued at about $187,000. Hedge funds and other institutional investors 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.