Piper Sandler Cuts Glaukos (NYSE:GKOS) Price Target to $165.00

Glaukos (NYSE:GKOS) had its target price reduced by Piper Sandler from $180.00 to $165.00 in a research note released on Tuesday, Marketbeat.com reports. They currently have an overweight rating on the medical instruments supplier’s stock.

A number of other equities analysts have also commented on GKOS. Needham & Company LLC boosted their price objective on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company raised their price target on shares of Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. Truist Financial reduced their price target on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Stifel Nicolaus increased their target price on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.17.

Glaukos Stock Performance

NYSE:GKOS opened at $90.15 on Tuesday. The firm’s fifty day simple moving average is $109.20 and its 200 day simple moving average is $131.61. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos has a twelve month low of $77.91 and a twelve month high of $163.71. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -31.41 and a beta of 0.88.

Glaukos (NYSE:GKOS) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. As a group, equities research analysts expect that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in 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 worth $895,887,000 after buying an additional 101,838 shares in the last quarter. 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 valued at $218,708,000 after purchasing an additional 68,310 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier’s stock valued at $179,555,000 after buying an additional 25,199 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Glaukos by 25.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock worth $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Glaukos by 1,235.4% during the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after purchasing an additional 755,035 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.