Glaukos (NYSE:GKOS) Price Target Increased to $113.00 by Analysts at Needham & Company LLC

Glaukos (NYSE:GKOS) had its target price boosted by research analysts at Needham & Company LLC from $108.00 to $113.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price target indicates a potential upside of 14.33% from the stock’s previous close.

Several other brokerages also recently commented on GKOS. Truist Financial reissued a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research report on Monday, April 8th. Wells Fargo & Company lifted their target price on Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho lifted their price objective on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. 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’s stock. Based on data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $100.30.

Glaukos Trading Up 3.0 %

NYSE:GKOS opened at $98.84 on Thursday. Glaukos has a one year low of $45.38 and a one year high of $103.66. The company’s 50-day simple moving average is $92.71 and its 200 day simple moving average is $82.43. The firm has a market capitalization of $4.96 billion, a P/E ratio of -35.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same quarter in the previous year, the company earned ($0.53) EPS. The business’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, analysts forecast that Glaukos will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, CFO Alex R. Thurman sold 434 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the sale, the chief financial officer now owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Alex R. Thurman sold 1,372 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 52,532 shares of the company’s stock, valued at approximately $5,281,567.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 434 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock worth $21,965,491 over the last ninety days. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its position in Glaukos by 20.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock valued at $420,000 after buying an additional 959 shares during the period. Xponance Inc. bought a new position in Glaukos in the third quarter worth approximately $208,000. Raymond James & Associates increased its holdings in Glaukos by 18.9% during the 3rd quarter. Raymond James & Associates now owns 12,898 shares of the medical instruments supplier’s stock worth $971,000 after purchasing an additional 2,053 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Glaukos by 10.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,916 shares of the medical instruments supplier’s stock valued at $746,000 after purchasing an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Glaukos during the 3rd quarter worth $203,000. 99.04% of the stock is currently owned by 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.