Glaukos (NYSE:GKOS) Price Target Cut to $115.00 by Analysts at Needham & Company LLC

Glaukos (NYSE:GKOS) had its price objective cut by Needham & Company LLC from $176.00 to $115.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other reports. Mizuho lowered their price target on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut Glaukos from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $160.00 to $86.00 in a report on Thursday. Piper Sandler dropped their price target on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial reduced their price objective on Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.50.

Glaukos Stock Performance

Shares of GKOS stock opened at $83.21 on Thursday. The stock has a fifty day moving average price of $98.27 and a 200 day moving average price of $129.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The stock has a market cap of $4.75 billion, a PE ratio of -28.99 and a beta of 0.88. Glaukos has a 1 year low of $77.10 and a 1 year high of $163.71.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The business had revenue of $106.66 million during the quarter, compared to analysts’ expectations of $102.78 million. During the same quarter last year, the business posted ($0.70) earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts forecast that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its stake in shares of Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 158 shares during the period. Whipplewood Advisors LLC boosted its stake in shares of Glaukos by 3,957.1% in the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 277 shares during the period. First Horizon Advisors Inc. increased its position in shares of Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 159 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock worth $38,000 after acquiring an additional 327 shares in the last quarter. Finally, IFP Advisors Inc purchased a new position in Glaukos in the fourth quarter valued at about $43,000. 99.04% of the stock is owned by institutional investors and hedge funds.

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.