Glaukos Co. (NYSE:GKOS) Given Average Recommendation of “Moderate Buy” by Brokerages

Glaukos Co. (NYSE:GKOS) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $128.45.

A number of equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler raised their target price on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and raised their target price for the company from $84.00 to $125.00 in a research note on Monday, May 6th.

Insider Buying and Selling

In related news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the sale, the director now owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The disclosure for this sale can be found here. Insiders have sold 41,000 shares of company stock valued at $4,990,740 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Glaukos by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares during the period. Brown Capital Management LLC boosted its holdings in shares of Glaukos by 3.4% in the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after buying an additional 89,420 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Glaukos by 3.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after buying an additional 47,308 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after buying an additional 372,180 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Glaukos by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after buying an additional 31,213 shares during the period. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 0.1 %

Shares of GKOS opened at $135.39 on Thursday. The firm has a market cap of $6.82 billion, a PE ratio of -47.01 and a beta of 1.05. The company’s fifty day moving average is $121.40 and its two-hundred day moving average is $107.16. Glaukos has a fifty-two week low of $59.22 and a fifty-two week high of $136.36. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.52). The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.55) EPS. Analysts forecast that Glaukos will post -2.25 earnings per share for the current year.

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.