Glaukos (NYSE:GKOS) Upgraded by Mizuho to Outperform Rating

Glaukos (NYSE:GKOS) was upgraded by research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $200.00 price target on the medical instruments supplier’s stock, up from their previous price target of $140.00. Mizuho’s price target indicates a potential upside of 26.61% from the stock’s previous close.

GKOS has been the topic of several other research reports. UBS Group assumed coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 price target 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 on the stock. in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Truist Financial upped their price target on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, BTIG Research upped their price objective on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.42.

Glaukos Stock Down 1.6 %

GKOS stock opened at $157.97 on Wednesday. The company has a market cap of $8.71 billion, a P/E ratio of -52.31 and a beta of 1.04. Glaukos has a 52 week low of $83.90 and a 52 week high of $163.71. The company’s 50-day moving average price is $153.00 and its 200 day moving average price is $139.16. 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 (NYSE:GKOS) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. On average, research analysts expect that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,656,707.36. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,744 shares of company stock valued at $2,792,151. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several large investors have recently made changes to their positions in GKOS. Creative Planning increased its position in shares of Glaukos by 64.1% in the third quarter. Creative Planning now owns 12,643 shares of the medical instruments supplier’s stock worth $1,647,000 after acquiring an additional 4,937 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Glaukos by 31.3% in the third quarter. Assenagon Asset Management S.A. now owns 75,798 shares of the medical instruments supplier’s stock valued at $9,875,000 after purchasing an additional 18,067 shares during the period. Values First Advisors Inc. purchased a new position in shares of Glaukos in the third quarter valued at $25,000. Louisiana State Employees Retirement System boosted its stake in shares of Glaukos by 5.1% in the third quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the medical instruments supplier’s stock valued at $3,465,000 after purchasing an additional 1,300 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Glaukos by 6.0% in the third quarter. State of Alaska Department of Revenue now owns 31,357 shares of the medical instruments supplier’s stock valued at $4,085,000 after purchasing an additional 1,785 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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.