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

Glaukos (NYSE:GKOS) had its price objective raised by Stifel Nicolaus from $153.00 to $175.00 in a report released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts have also recently issued research reports about the stock. UBS Group began coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. Stephens raised Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $147.75.

Glaukos Stock Performance

Shares of GKOS stock opened at $149.68 on Tuesday. The company has a market cap of $8.25 billion, a P/E ratio of -49.56 and a beta of 1.03. The firm has a fifty day moving average price of $141.67 and a 200 day moving average price of $130.33. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos has a 12 month low of $74.75 and a 12 month high of $153.50.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the prior year, the firm posted ($0.50) EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Sell-side analysts predict that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock valued at $2,605,678 over the last three months. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after purchasing an additional 1,630,270 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Glaukos during the second quarter worth about $67,460,000. Primecap Management Co. CA increased its holdings in Glaukos by 43.9% in the second 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in shares of Glaukos by 24.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after acquiring an additional 155,653 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

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.