Glaukos (NYSE:GKOS) Price Target Raised to $175.00

Glaukos (NYSE:GKOS) had its price objective lifted by Stifel Nicolaus from $170.00 to $175.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other equities analysts also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Truist Financial lifted their price objective on shares of Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup boosted their target price on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped their target price on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, BTIG Research restated a “buy” rating and issued a $164.00 target price on shares of Glaukos in a research report on Monday, July 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Trading Up 0.1%

NYSE:GKOS opened at $156.97 on Friday. Glaukos has a 12-month low of $73.16 and a 12-month high of $161.53. The firm has a market capitalization of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The business has a 50 day simple moving average of $134.39 and a 200 day simple moving average of $122.08.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. During the same period in the prior year, the business earned ($0.22) EPS. The firm’s revenue was up 41.2% on a year-over-year basis. Equities research analysts predict that Glaukos will post -0.57 EPS for the current year.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares in the company, valued at $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,115,340. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,273 shares of company stock worth $8,882,003. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Glaukos by 460.8% during the fourth quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock valued at $6,801,000 after purchasing an additional 49,492 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Glaukos by 32.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier’s stock worth $39,336,000 after buying an additional 87,781 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in Glaukos in the fourth quarter worth approximately $6,775,000. JPMorgan Chase & Co. increased its holdings in shares of Glaukos by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock valued at $54,645,000 after buying an additional 27,646 shares in the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Glaukos by 11.9% in the fourth quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock valued at $9,295,000 after buying an additional 8,770 shares in 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.