Glaukos Co. (NYSE:GKOS) Receives $135.45 Average PT from Brokerages

Shares of Glaukos Co. (NYSE:GKOS) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $136.18.

Several research analysts have commented on the stock. Morgan Stanley downgraded shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a report on Monday. Stifel Nicolaus boosted their target price on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th.

Insider Activity

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

Hedge Funds Weigh In On Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in shares of Glaukos in the 3rd quarter worth about $25,000. Harvest Fund Management Co. Ltd increased its stake in Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. GAMMA Investing LLC increased its stake in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the second quarter worth about $187,000. Finally, KBC Group NV lifted its stake in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $139.07 on Friday. The stock has a fifty day moving average of $134.36 and a 200-day moving average of $125.16. The stock has a market cap of $7.67 billion, a PE ratio of -46.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos has a fifty-two week low of $59.58 and a fifty-two week high of $146.86.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.50) earnings per share. Equities research analysts anticipate that Glaukos will post -1.91 earnings per share for the current year.

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.