Glaukos Corp (GKOS) Receives $59.78 Average Target Price from Analysts

Shares of Glaukos Corp (NYSE:GKOS) have earned an average rating of “Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $59.78.

Separately, Zacks Investment Research cut Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd.

In other Glaukos news, Director William J. Phd Link sold 14,475 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $58.01, for a total transaction of $839,694.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph E. Gilliam sold 2,100 shares of the business’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $58.37, for a total value of $122,577.00. Following the transaction, the chief financial officer now directly owns 91,117 shares in the company, valued at approximately $5,318,499.29. The disclosure for this sale can be found here. Insiders sold 63,075 shares of company stock worth $3,653,652 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in Glaukos by 3.3% during the third quarter. Vanguard Group Inc now owns 2,805,222 shares of the medical instruments supplier’s stock worth $182,059,000 after buying an additional 90,235 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Glaukos in the 3rd quarter valued at $63,000. Vanguard Group Inc. lifted its stake in shares of Glaukos by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,805,222 shares of the medical instruments supplier’s stock valued at $182,059,000 after purchasing an additional 90,235 shares during the last quarter. Morgan Stanley lifted its stake in shares of Glaukos by 180.5% in the 3rd quarter. Morgan Stanley now owns 213,446 shares of the medical instruments supplier’s stock valued at $13,851,000 after purchasing an additional 137,358 shares during the last quarter. Finally, Standard Life Aberdeen plc acquired a new position in shares of Glaukos in the 3rd quarter valued at $1,054,000.

Glaukos stock opened at $57.62 on Friday. Glaukos has a 12 month low of $26.75 and a 12 month high of $70.91.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, November 7th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.05). The business had revenue of $43.91 million during the quarter, compared to analysts’ expectations of $41.65 million. Glaukos had a negative net margin of 8.13% and a negative return on equity of 9.26%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. On average, sell-side analysts anticipate that Glaukos will post -0.56 EPS for the current fiscal year.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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