Glaukos (NYSE:GKOS) Given New $175.00 Price Target at Stifel Nicolaus

Glaukos (NYSE:GKOS) had its price objective lifted by Stifel Nicolaus from $153.00 to $175.00 in a report published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued research reports about the company. Stephens upgraded Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group began coverage on Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price objective on the stock. Truist Financial boosted their target price on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Finally, StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Price Performance

Glaukos stock opened at $149.68 on Tuesday. The firm has a market capitalization of $8.25 billion, a PE ratio of -49.56 and a beta of 1.03. Glaukos has a 52 week low of $74.75 and a 52 week high of $153.50. The firm’s 50-day simple moving average is $141.67 and its 200 day simple moving average is $130.33. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the firm earned ($0.50) earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts predict that Glaukos will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,603 shares of company stock worth $2,605,678 in the last quarter. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the period. State Street Corp boosted its position in shares of Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after buying an additional 98,109 shares during the period. Fred Alger Management LLC grew its stake in shares of Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after buying an additional 47,308 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Glaukos by 2.0% during the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after buying an additional 24,370 shares during the period. Finally, Geode Capital Management LLC lifted its position in Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock worth $152,722,000 after acquiring an additional 66,134 shares in the last quarter. 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.