Glaukos’ (GKOS) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Glaukos (NYSE:GKOS) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $180.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $140.00.

Other equities research analysts also recently issued reports about the stock. UBS Group began coverage on shares of Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target for the company. BTIG Research boosted their target price on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price target on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $151.08.

Glaukos Stock Down 0.5 %

Shares of NYSE:GKOS opened at $158.89 on Monday. Glaukos has a 1 year low of $83.90 and a 1 year high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The business’s 50-day moving average is $148.82 and its 200-day moving average is $135.63. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of -52.61 and a beta of 1.04.

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

Insider Activity at Glaukos

In other 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 transaction of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This trade represents a 23.62 % 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 3,328 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,328 shares of company stock valued at $2,289,521 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds have recently added to or reduced their stakes in the stock. Values First Advisors Inc. purchased a new stake in shares of Glaukos during the 3rd quarter worth approximately $25,000. Harvest Fund Management Co. Ltd increased its position in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares during the last quarter. KBC Group NV increased its position in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares during the last quarter. Zhang Financial LLC bought a new stake in shares of Glaukos in the fourth quarter valued at $221,000. Finally, EWA LLC purchased a new position in shares of Glaukos during the 3rd quarter valued at $209,000. Institutional investors own 99.04% of the company’s stock.

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.