Glaukos (NYSE:GKOS) PT Raised to $110.00

Glaukos (NYSE:GKOS) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $103.00 to $110.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.34% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Mizuho boosted their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Truist Financial reiterated a “buy” rating and issued a $110.00 price objective on shares of Glaukos in a research note on Monday, April 8th. Needham & Company LLC upped their price objective on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. Finally, Citigroup increased their price target on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.50.

Glaukos Stock Up 7.6 %

Shares of GKOS traded up $7.53 during mid-day trading on Thursday, reaching $106.44. The company’s stock had a trading volume of 180,679 shares, compared to its average volume of 646,871. Glaukos has a 1 year low of $45.47 and a 1 year high of $107.48. 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 market cap of $5.34 billion, a price-to-earnings ratio of -38.12 and a beta of 1.08. The business has a fifty day moving average of $92.71 and a 200 day moving average of $82.43.

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

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the transaction, the chief operating officer now owns 98,388 shares in the company, valued at approximately $9,065,470.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.47, for a total value of $6,008,206.47. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,232,367.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the sale, the chief operating officer now owns 98,388 shares of the company’s stock, valued at $9,065,470.32. The disclosure for this sale can be found here. Insiders sold a total of 232,881 shares of company stock worth $21,965,491 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Glaukos by 127.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock worth $15,657,000 after buying an additional 93,076 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Glaukos by 1.7% during the first quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock valued at $902,000 after purchasing an additional 150 shares during the period. Caldwell Sutter Capital Inc. increased its position in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Glaukos during the first quarter worth about $343,000. Finally, Nomura Holdings Inc. grew its position in Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after purchasing an additional 7,146 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.