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

Shares of Glaukos Co. (NYSE:GKOS) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $147.75.

A number of research analysts have recently weighed in on the company. BTIG Research lifted their price objective on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus increased their price objective on shares of Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Truist Financial increased their price target on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th.

Glaukos Trading Down 0.4 %

Shares of NYSE:GKOS opened at $160.50 on Friday. The stock’s 50-day simple moving average is $147.76 and its two-hundred day simple moving average is $134.85. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of -53.15 and a beta of 1.04. Glaukos has a 52-week low of $83.90 and a 52-week high of $163.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.50) earnings per share. Analysts expect that Glaukos will post -1.89 EPS for the current year.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Glaukos by 294.5% during the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Glaukos in the 2nd quarter worth about $67,460,000. Charles Schwab Investment Management Inc. grew its stake in Glaukos by 47.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after acquiring an additional 207,338 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Glaukos by 24.0% during the second 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 in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Glaukos by 21.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock worth $87,776,000 after purchasing an additional 119,527 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.