Glaukos (NYSE:GKOS) Lifted to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Glaukos (NYSE:GKOS) from a hold rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports. Jefferies Financial Group currently has $125.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $84.00.

A number of other analysts have also recently weighed in on the stock. Truist Financial restated a buy rating and set a $125.00 target price (up from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Mizuho raised their price objective on shares of Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Needham & Company LLC raised their price objective on shares of Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company raised their price objective on shares of Glaukos from $103.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $108.64.

Glaukos Trading Down 1.0 %

Shares of NYSE:GKOS opened at $106.91 on Monday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -37.12 and a beta of 1.08. Glaukos has a 1-year low of $54.38 and a 1-year high of $110.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The company has a 50 day moving average price of $94.28 and a 200 day moving average price of $83.79.

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

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 1,512 shares of Glaukos stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.80, for a total transaction of $146,361.60. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at approximately $11,596,833.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark J. Foley sold 4,560 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now owns 33,220 shares in the company, valued at approximately $3,085,141.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 1,512 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.80, for a total transaction of $146,361.60. Following the transaction, the chief operating officer now owns 119,802 shares in the company, valued at approximately $11,596,833.60. The disclosure for this sale can be found here. Insiders sold 230,544 shares of company stock valued at $21,767,497 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GKOS. National Bank of Canada FI bought a new position in Glaukos in the 4th quarter worth $46,000. GAMMA Investing LLC bought a new position in Glaukos in the 4th quarter worth $55,000. Quadrant Capital Group LLC raised its holdings in 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 acquiring an additional 329 shares during the period. Caldwell Sutter Capital Inc. raised its holdings in Glaukos by 5,860.0% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in 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 acquiring an additional 270 shares during the period. 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.