BTIG Research Boosts Glaukos (NYSE:GKOS) Price Target to $149.00

Glaukos (NYSE:GKOS) had its price target lifted by BTIG Research from $140.00 to $149.00 in a report published on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts have also commented on GKOS. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Truist Financial upped their price target on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Needham & Company LLC lifted their price objective on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.45.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $140.73 on Tuesday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $132.77 and a 200 day moving average price of $124.05. The company has a market cap of $7.76 billion, a price-to-earnings ratio of -46.46 and a beta of 1.02. Glaukos has a twelve month low of $59.22 and a twelve month high of $146.86.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) earnings per share. Research analysts predict that Glaukos will post -1.96 earnings per share for the current year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. State Street Corp raised its stake in shares of Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after buying an additional 98,109 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after buying an additional 47,308 shares during the period. Primecap Management Co. CA lifted its holdings in Glaukos by 2.0% in the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after buying an additional 24,370 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Glaukos by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after acquiring an additional 66,134 shares during the last quarter. Institutional investors and hedge funds 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.