Glaukos’ (GKOS) Buy Rating Reiterated at Wells Fargo & Co

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Glaukos (NYSE:GKOS)‘s stock had its “buy” rating reiterated by analysts at Wells Fargo & Co in a research report issued on Wednesday.

A number of other analysts have also recently weighed in on GKOS. Zacks Investment Research cut Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, December 28th. Piper Jaffray Companies reissued an “overweight” rating and issued a $80.00 price objective on shares of Glaukos in a research report on Thursday, February 28th. Stephens raised their price objective on Glaukos from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Stifel Nicolaus raised their price objective on Glaukos from $58.00 to $68.00 and gave the stock a “positive” rating in a research report on Thursday, February 28th. Finally, BTIG Research started coverage on Glaukos in a research report on Friday, March 8th. They issued a “neutral” rating and a $66.02 price objective for the company. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $68.50.

Glaukos stock opened at $80.54 on Wednesday. The firm has a market capitalization of $2.80 billion, a PE ratio of -217.68 and a beta of 1.63. Glaukos has a 1-year low of $26.75 and a 1-year high of $82.24.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, February 27th. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.17. The firm had revenue of $54.08 million during the quarter, compared to analysts’ expectations of $49.60 million. Glaukos had a negative return on equity of 8.24% and a negative net margin of 7.14%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. Research analysts expect that Glaukos will post -0.33 earnings per share for the current fiscal year.

In other Glaukos news, COO Chris M. Calcaterra sold 90,000 shares of Glaukos stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.69, for a total transaction of $6,092,100.00. Following the completion of the sale, the chief operating officer now owns 193,344 shares of the company’s stock, valued at approximately $13,087,455.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph E. Gilliam sold 5,000 shares of Glaukos stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $70.03, for a total value of $350,150.00. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc lifted its position in Glaukos by 20.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the medical instruments supplier’s stock worth $61,000 after acquiring an additional 189 shares during the period. Equitable Trust Co. lifted its holdings in shares of Glaukos by 12.5% in the 4th quarter. Equitable Trust Co. now owns 4,500 shares of the medical instruments supplier’s stock valued at $253,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Glaukos by 24.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,583 shares of the medical instruments supplier’s stock valued at $145,000 after buying an additional 508 shares during the period. American International Group Inc. lifted its holdings in shares of Glaukos by 2.4% in the 4th quarter. American International Group Inc. now owns 22,433 shares of the medical instruments supplier’s stock valued at $1,260,000 after buying an additional 530 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Glaukos in the 4th quarter valued at about $31,000.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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