Glaukos (NYSE:GKOS) Price Target Raised to $110.00

Glaukos (NYSE:GKOS) had its price objective raised by Wells Fargo & Company from $103.00 to $110.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

Several other analysts also recently commented on GKOS. Citigroup raised their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a report on Monday, March 25th. Mizuho boosted their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Needham & Company LLC increased their target price on Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a report on Thursday. Truist Financial reiterated a buy rating and issued a $110.00 price target on shares of Glaukos in a research note on Monday, April 8th. Finally, StockNews.com downgraded Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $107.00.

Glaukos Trading Up 1.4 %

Glaukos stock opened at $106.51 on Thursday. Glaukos has a 52 week low of $49.19 and a 52 week high of $108.22. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. The business’s fifty day moving average is $93.33 and its two-hundred day moving average is $83.07.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same period in the prior year, the company earned ($0.59) EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Glaukos will post -2.2 EPS for the current year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,232,367.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total transaction of $423,487.20. Following the completion of the transaction, the director now owns 33,220 shares of the company’s stock, valued at approximately $3,085,141.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.47, for a total value of $6,008,206.47. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at $10,232,367.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,881 shares of company stock valued at $21,965,491. 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 added to or reduced their stakes in GKOS. National Bank of Canada FI purchased a new stake in shares of Glaukos in the 4th quarter worth about $46,000. GAMMA Investing LLC purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC boosted its position in shares of Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Glaukos by 17.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after buying an additional 270 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. increased its position in Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 1,465 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.