Wells Fargo & Company Raises Glaukos (NYSE:GKOS) Price Target to $160.00

Glaukos (NYSE:GKOS) had its price objective boosted by Wells Fargo & Company from $153.00 to $160.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

A number of other research analysts have also recently commented on GKOS. Truist Financial upped their price target on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Stephens raised shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, BTIG Research upped their price objective on shares of Glaukos from $140.00 to $149.00 and gave the stock 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 issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Glaukos Trading Down 19.9 %

GKOS stock opened at $126.03 on Friday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a twelve month low of $83.90 and a twelve month high of $163.71. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -43.91 and a beta of 1.04. The firm’s fifty day simple moving average is $152.75 and its two-hundred day simple moving average is $139.57.

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

Insider Buying and Selling at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,744 shares of company stock valued at $2,792,151. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of GKOS. Creative Planning increased its holdings in Glaukos by 64.1% in the 3rd quarter. Creative Planning now owns 12,643 shares of the medical instruments supplier’s stock worth $1,647,000 after buying an additional 4,937 shares during the period. Assenagon Asset Management S.A. increased its holdings in Glaukos by 31.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,798 shares of the medical instruments supplier’s stock worth $9,875,000 after buying an additional 18,067 shares during the period. Values First Advisors Inc. acquired a new position in Glaukos in the 3rd quarter worth approximately $25,000. Louisiana State Employees Retirement System increased its holdings in Glaukos by 5.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the medical instruments supplier’s stock worth $3,465,000 after buying an additional 1,300 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in Glaukos by 6.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,357 shares of the medical instruments supplier’s stock worth $4,085,000 after buying an additional 1,785 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.