Glaukos Co. (NYSE:GKOS) Receives $99.80 Average Price Target from Brokerages

Shares of Glaukos Co. (NYSE:GKOS) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $99.80.

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Needham & Company LLC lifted their price target on Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a research note on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. Finally, StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $101.06 on Friday. 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 firm’s 50-day moving average price is $91.93 and its two-hundred day moving average price is $81.08. Glaukos has a 52-week low of $45.38 and a 52-week high of $102.33. The stock has a market capitalization of $5.07 billion, a P/E ratio of -36.35 and a beta of 1.08.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The company had revenue of $82.40 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted ($0.53) EPS. As a group, sell-side analysts forecast that Glaukos will post -2.18 earnings per share for the current year.

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the transaction, the chief financial officer now directly owns 54,916 shares in the company, valued at approximately $4,962,758.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the sale, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at $4,962,758.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 1,372 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,357 shares of company stock valued at $22,857,372. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently bought and sold shares of GKOS. Xponance Inc. increased its position in shares of Glaukos by 4.1% during the 4th quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock worth $229,000 after purchasing an additional 113 shares in the last quarter. Corient Private Wealth LLC boosted its position in Glaukos by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock valued at $1,969,000 after buying an additional 163 shares in the last quarter. Arizona State Retirement System boosted its position in Glaukos by 2.1% in the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock valued at $981,000 after buying an additional 264 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after buying an additional 270 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 329 shares in the last quarter. 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.