Citigroup Boosts Glaukos (NYSE:GKOS) Price Target to $120.00

Glaukos (NYSE:GKOS) had its price target increased by Citigroup from $107.00 to $120.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of a number of other research reports. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Morgan Stanley started coverage on shares of Glaukos in a report on Monday, December 4th. They set an equal weight rating and a $65.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Glaukos from $105.00 to $108.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Wells Fargo & Company increased their price objective on shares of Glaukos from $83.00 to $103.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. raised shares of Glaukos from a neutral rating to an overweight rating and raised their target price for the company from $66.00 to $91.00 in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $96.30.

Glaukos Trading Up 1.7 %

Shares of Glaukos stock opened at $94.31 on Monday. The stock has a market capitalization of $4.67 billion, a P/E ratio of -33.92 and a beta of 1.08. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77. The company has a 50-day simple moving average of $90.64 and a 200 day simple moving average of $78.42. Glaukos has a 12-month low of $45.38 and a 12-month high of $97.24.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). The firm had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.53) EPS. Research analysts expect that Glaukos will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 583 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $90.54, for a total transaction of $52,784.82. Following the sale, the chief financial officer now directly owns 54,618 shares in the company, valued at approximately $4,945,113.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total value of $12,922,174.30. Following the completion of the transaction, the chief operating officer now directly owns 98,388 shares of the company’s stock, valued at $9,065,470.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alex R. Thurman sold 583 shares of Glaukos stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $90.54, for a total transaction of $52,784.82. Following the transaction, the chief financial officer now directly owns 54,618 shares of the company’s stock, valued at $4,945,113.72. The disclosure for this sale can be found here. Insiders have sold 246,183 shares of company stock worth $22,108,580 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. boosted its position in shares of Glaukos by 3.2% during the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after acquiring an additional 7,146 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $216,000. Goldman Sachs Group Inc. boosted its position in Glaukos by 17.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 126,642 shares of the medical instruments supplier’s stock valued at $10,067,000 after buying an additional 18,639 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Glaukos by 1,098.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,924 shares of the medical instruments supplier’s stock valued at $24,955,000 after buying an additional 287,736 shares in the last quarter. Finally, Systematic Portfolios LLC acquired a new stake in Glaukos in the fourth quarter valued at approximately $258,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.