Glaukos (NYSE:GKOS) Price Target Raised to $149.00

Glaukos (NYSE:GKOS) had its price objective upped by equities research analysts at BTIG Research from $140.00 to $149.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price suggests a potential upside of 6.41% from the company’s previous close.

Several other analysts have also commented on the company. Stifel Nicolaus lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Needham & Company LLC upped their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $135.45.

Glaukos Stock Down 2.0 %

GKOS traded down $2.91 during midday trading on Tuesday, reaching $140.03. The company’s stock had a trading volume of 178,706 shares, compared to its average volume of 570,970. The stock’s 50-day moving average is $132.77 and its 200-day moving average is $124.05. Glaukos has a 1 year low of $59.22 and a 1 year high of $146.86. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of -46.46 and a beta of 1.02. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

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 analysts’ consensus estimates 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 firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, research analysts expect that Glaukos will post -1.96 EPS for the current year.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds have recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new stake in Glaukos in the third quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the second quarter valued at $187,000. Finally, KBC Group NV raised its stake in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.