Glaukos (NYSE:GKOS) Price Target Raised to $180.00

Glaukos (NYSE:GKOS) had its price target lifted by Truist Financial from $160.00 to $180.00 in a research note published on Thursday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued research reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $164.00 target price on shares of Glaukos in a research report on Monday, July 13th. Citigroup lifted their price target on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Piper Sandler restated an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Finally, Needham & Company LLC lifted their target price on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.85.

Glaukos Stock Performance

Shares of GKOS stock opened at $156.97 on Thursday. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.53. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of -47.86 and a beta of 0.75. The company has a 50-day simple moving average of $134.39 and a 200 day simple moving average of $122.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43.

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, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business’s revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) EPS. On average, sell-side analysts predict that Glaukos will post -0.57 earnings per share for the current year.

Insider Buying and Selling

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at approximately $6,770,555. The trade was a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 61,273 shares of company stock worth $8,882,003. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. Wealth Alliance LLC boosted its position in shares of Glaukos by 4.5% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock worth $247,000 after acquiring an additional 98 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Glaukos by 9.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 122 shares in the last quarter. Larson Financial Group LLC raised its position in 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 purchasing an additional 132 shares in the last quarter. CWM LLC lifted its stake in Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Glaukos by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock worth $947,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds 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.