Glaukos Co. (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Glaukos Co. (NYSE:GKOS) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $145.92.

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Finally, Truist Financial increased their target price on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

Glaukos Price Performance

Shares of NYSE GKOS opened at $151.22 on Wednesday. The firm has a market cap of $8.34 billion, a P/E ratio of -50.07 and a beta of 1.03. The business’s 50 day moving average is $138.89 and its 200-day moving average is $128.72. 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 1-year low of $74.75 and a 1-year high of $151.92.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) EPS. Equities research analysts predict that Glaukos will post -1.89 earnings per share for the current year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $316,156.75. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its stake in shares of Glaukos by 23.2% in the second quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier’s stock worth $1,541,000 after purchasing an additional 2,452 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Glaukos by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 413,680 shares of the medical instruments supplier’s stock worth $48,959,000 after buying an additional 26,510 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Glaukos by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,725 shares of the medical instruments supplier’s stock valued at $1,269,000 after buying an additional 1,104 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Glaukos by 20.7% in the second quarter. Commonwealth Equity Services LLC now owns 5,620 shares of the medical instruments supplier’s stock valued at $665,000 after buying an additional 963 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of Glaukos by 12.5% during the second quarter. Natixis Advisors LLC now owns 37,297 shares of the medical instruments supplier’s stock worth $4,414,000 after acquiring an additional 4,158 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

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.