Glaukos (NYSE:GKOS) Given Overweight Rating at Piper Sandler

Glaukos (NYSE:GKOS)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They presently have a $165.00 price objective on the medical instruments supplier’s stock. Piper Sandler’s target price indicates a potential upside of 17.86% from the company’s previous close.

Several other brokerages also recently weighed in on GKOS. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Wells Fargo & Company boosted their target price on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Stifel Nicolaus set a $170.00 price target on Glaukos in a research report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average target price of $149.17.

Glaukos Price Performance

Shares of NYSE GKOS opened at $140.00 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. Glaukos has a 1-year low of $73.16 and a 1-year high of $148.11. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of -42.75 and a beta of 0.82. The business has a 50-day moving average of $128.02 and a 200-day moving average of $118.68.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.Glaukos’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.22) EPS. On average, equities analysts anticipate that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the sale, the director directly owned 19,739 shares in the company, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the sale, the director owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,273 shares of company stock worth $5,832,003 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of GKOS. First Horizon Corp increased its position in Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 223 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC increased its position in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after buying an additional 215 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.