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

Glaukos (NYSE:GKOS) had its price objective increased by research analysts at BTIG Research from $140.00 to $149.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price objective would suggest a potential upside of 4.43% from the company’s previous close.

A number of other analysts also recently weighed in on GKOS. Piper Sandler set a $140.00 target price on shares of Glaukos in a report on Thursday, October 17th. Stifel Nicolaus boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC raised their price target on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.45.

Glaukos Price Performance

NYSE:GKOS opened at $142.68 on Tuesday. The company has a market capitalization of $7.87 billion, a P/E ratio of -46.60 and a beta of 1.02. The business’s 50-day moving average is $133.15 and its 200 day moving average is $124.27. 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 has a 12 month low of $59.58 and a 12 month high of $146.86.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (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 analysts’ expectations of $91.50 million. During the same period in the prior year, the firm earned ($0.50) EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts forecast that Glaukos will post -1.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in Glaukos by 80.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after acquiring an additional 6,948 shares in the last quarter. Tidal Investments LLC grew its holdings in Glaukos by 83.1% during the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after acquiring an additional 6,767 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Glaukos during the third quarter valued at about $258,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Glaukos by 84.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock valued at $3,709,000 after buying an additional 13,019 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Glaukos by 6.0% during the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

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.