Needham & Company LLC Raises Glaukos (NYSE:GKOS) Price Target to $176.00

Glaukos (NYSE:GKOS) had its target price lifted by research analysts at Needham & Company LLC from $149.00 to $176.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.41% from the company’s current price.

GKOS has been the subject of several other reports. Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $140.00 to $200.00 in a research report on Wednesday. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price 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. UBS Group started coverage on shares of Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 price target on the stock. Finally, Stephens raised shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $162.67.

Glaukos Stock Down 1.6 %

Shares of NYSE GKOS opened at $157.97 on Friday. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of -52.31 and a beta of 1.04. The company’s 50-day simple moving average is $153.00 and its 200-day simple moving average is $139.16. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a 52-week low of $83.90 and a 52-week high of $163.71.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Equities analysts predict that Glaukos will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction on 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 approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 owns 32,336 shares in the company, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,744 shares of company stock worth $2,792,151 in the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GKOS. Vanguard Group Inc. raised its stake in shares of Glaukos by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after acquiring an additional 101,838 shares during the period. Wellington Management Group LLP increased its holdings in 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 during the last quarter. State Street Corp raised its position in Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares during the period. Invesco Ltd. lifted its stake in Glaukos by 4.9% during the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier’s stock worth $218,708,000 after purchasing an additional 68,310 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Glaukos by 2.0% during the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock worth $162,223,000 after buying an additional 24,370 shares during the period. Hedge funds and other institutional investors 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.