Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Glaukos (NYSE:GKOS) had its price target increased by research analysts at Wells Fargo & Company from $135.00 to $145.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price points to a potential upside of 15.07% from the stock’s previous close.

A number of other research firms have also issued reports on GKOS. Truist Financial raised their target price on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus boosted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and increased their price target for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. BTIG Research boosted their price objective on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley increased their target price on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.36.

Glaukos Stock Performance

GKOS stock traded down $5.37 during midday trading on Tuesday, hitting $126.01. 608,135 shares of the company traded hands, compared to its average volume of 571,039. The business has a 50 day simple moving average of $129.64 and a 200-day simple moving average of $119.98. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. Glaukos has a twelve month low of $59.22 and a twelve month high of $139.51. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -38.76 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter last year, the firm posted ($0.50) EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts predict that Glaukos will post -2.16 earnings per share for the current year.

Insider Activity

In related news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,525 shares of company stock worth $5,142,029. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. WCM Investment Management LLC increased its stake in shares of Glaukos by 45.7% in the third quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after buying an additional 31,084 shares in the last quarter. Versor Investments LP acquired a new stake in Glaukos in the 3rd quarter valued at about $457,000. Crossmark Global Holdings Inc. raised its stake in shares of Glaukos by 15.8% in the third quarter. Crossmark Global Holdings Inc. now owns 4,051 shares of the medical instruments supplier’s stock worth $527,000 after acquiring an additional 554 shares during the last quarter. Amalgamated Bank lifted its position in shares of Glaukos by 4.5% during the third quarter. Amalgamated Bank now owns 15,926 shares of the medical instruments supplier’s stock worth $2,075,000 after purchasing an additional 679 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after acquiring an additional 200 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.