Glaukos (NYSE:GKOS) Price Target Raised to $160.00

Glaukos (NYSE:GKOS) had its price target lifted by Stifel Nicolaus from $115.00 to $160.00 in a report released on Thursday morning, MarketBeat.com reports. Stifel Nicolaus currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently weighed in on GKOS. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Glaukos in a research note on Wednesday, January 14th. Stephens upped their price objective on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.38.

Glaukos Stock Down 4.7%

Shares of GKOS stock opened at $119.96 on Thursday. Glaukos has a 52-week low of $73.16 and a 52-week high of $161.78. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -77.89 and a beta of 0.67. The firm’s 50-day moving average is $110.53 and its 200-day moving average is $96.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.Glaukos’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.28) earnings per share. Sell-side analysts predict that Glaukos will post -1.08 EPS for the current year.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the transaction, the director directly owned 34,905 shares of the company’s stock, valued at approximately $3,744,259.35. This trade represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 304,157 shares of company stock valued at $34,496,199 in the last three months. 5.80% of the stock is owned by insiders.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. UMB Bank n.a. increased its stake in Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 158 shares during the last quarter. REAP Financial Group LLC bought a new stake in Glaukos during the third quarter worth $40,000. Park Place Capital Corp boosted its holdings in shares of Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 162 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Glaukos by 111.4% in the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of Glaukos by 5,754.5% in the 2nd quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.