Truist Financial Reaffirms “Buy” Rating for Glaukos (NYSE:GKOS)

Truist Financial reissued their buy rating on shares of Glaukos (NYSE:GKOS) in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a $125.00 price target on the medical instruments supplier’s stock, up from their previous price target of $120.00.

A number of other research firms also recently commented on GKOS. Stifel Nicolaus reaffirmed a buy rating and issued a $110.00 price target on shares of Glaukos in a research note on Wednesday, April 3rd. Needham & Company LLC lifted their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a buy rating in a research report on Thursday. StockNews.com downgraded Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Mizuho increased their price objective on Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on Glaukos from $103.00 to $110.00 and gave the company an overweight rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $108.64.

Glaukos Stock Up 0.0 %

Shares of Glaukos stock traded up $0.03 on Thursday, hitting $106.54. 207,835 shares of the company traded hands, compared to its average volume of 648,180. Glaukos has a 12-month low of $54.38 and a 12-month high of $110.73. The company has a 50-day moving average price of $93.33 and a 200 day moving average price of $83.07. The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. The company has a market cap of $5.35 billion, a PE ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) 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%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.59) earnings per share. Sell-side analysts predict that Glaukos will post -2.2 earnings per share for the current year.

Insider Transactions at Glaukos

In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the transaction, the director now directly owns 33,220 shares of the company’s stock, valued at $3,085,141.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the sale, the director now directly owns 33,220 shares of the company’s stock, valued at approximately $3,085,141.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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 approximately $9,065,470.32. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently added to or reduced their stakes in the stock. Brown Capital Management LLC boosted its position in shares of Glaukos by 3.4% during the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after acquiring an additional 89,420 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Glaukos by 9.2% in the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after buying an additional 150,102 shares during the period. Invesco Ltd. increased its stake in Glaukos by 45.5% in the 3rd 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 during the period. Dimensional Fund Advisors LP raised its position in Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after purchasing an additional 31,213 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in Glaukos by 23.7% during the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after buying an additional 151,415 shares during the period. 99.04% of the stock is currently owned by hedge funds and other 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.