Glaukos (GKOS) Earns “Outperform” Rating from William Blair

William Blair reissued their outperform rating on shares of Glaukos (NYSE:GKOS) in a research report report published on Friday.

A number of other analysts have also recently commented on the stock. Stephens reaffirmed a buy rating and set a $36.00 target price on shares of Glaukos in a report on Thursday, March 1st. BMO Capital Markets reaffirmed an outperform rating and set a $36.00 target price (down from $38.00) on shares of Glaukos in a report on Thursday, March 1st. Canaccord Genuity reduced their target price on shares of Glaukos from $48.00 to $43.00 and set a buy rating for the company in a report on Thursday, March 1st. Cantor Fitzgerald set a $43.00 target price on shares of Glaukos and gave the company a buy rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their target price on shares of Glaukos from $42.00 to $39.00 and set a buy rating for the company in a report on Monday, February 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $41.25.

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Shares of Glaukos (NYSE:GKOS) opened at $29.61 on Friday. Glaukos has a twelve month low of $23.08 and a twelve month high of $52.48. The company has a market cap of $1,028.68, a P/E ratio of 197.40 and a beta of 1.07.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Glaukos had a negative net margin of 0.06% and a positive return on equity of 4.03%. The business had revenue of $41.65 million during the quarter, compared to analysts’ expectations of $40.83 million. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. analysts predict that Glaukos will post -0.38 EPS for the current fiscal year.

In other Glaukos news, Director Orbimed Advisors Llc sold 836,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $32.02, for a total value of $26,784,730.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Silverstein sold 464,583 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $32.29, for a total transaction of $15,001,385.07. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its position in shares of Glaukos by 7.2% during the third quarter. Janus Henderson Group PLC now owns 3,344,361 shares of the medical instruments supplier’s stock worth $110,364,000 after acquiring an additional 225,105 shares during the last quarter. Bamco Inc. NY boosted its position in shares of Glaukos by 104.6% during the third quarter. Bamco Inc. NY now owns 2,194,059 shares of the medical instruments supplier’s stock worth $72,404,000 after acquiring an additional 1,121,813 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Glaukos by 7.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,979,960 shares of the medical instruments supplier’s stock worth $50,786,000 after acquiring an additional 137,969 shares during the last quarter. BlackRock Inc. boosted its position in shares of Glaukos by 6.5% during the fourth quarter. BlackRock Inc. now owns 1,957,114 shares of the medical instruments supplier’s stock worth $50,200,000 after acquiring an additional 119,811 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of Glaukos by 32.6% during the fourth quarter. Peregrine Capital Management LLC now owns 622,144 shares of the medical instruments supplier’s stock worth $15,958,000 after acquiring an additional 152,990 shares during the last quarter.

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About Glaukos

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

Analyst Recommendations for Glaukos (NYSE:GKOS)

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