Glaukos (NYSE:GKOS) Price Target Cut to $115.00 by Analysts at Stifel Nicolaus

Glaukos (NYSE:GKOS) had its price target reduced by Stifel Nicolaus from $140.00 to $115.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler dropped their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company lowered Glaukos from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $160.00 to $86.00 in a report on Thursday. Truist Financial reduced their target price on Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 11th. Needham & Company LLC lowered their price target on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Mizuho cut their price target on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.50.

Glaukos Price Performance

Glaukos stock opened at $83.21 on Thursday. The business has a 50 day simple moving average of $98.27 and a 200-day simple moving average of $129.09. Glaukos has a 12 month low of $77.10 and a 12 month high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The stock has a market capitalization of $4.75 billion, a PE ratio of -28.99 and a beta of 0.88.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the prior year, the firm earned ($0.70) EPS. Glaukos’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts predict that Glaukos will post -1.08 earnings per share for the current year.

Insider Transactions at Glaukos

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction on 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 in the company, valued at approximately $5,708,568.04. This represents a 2.77 % 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

Several large investors have recently added to or reduced their stakes in GKOS. State of Wyoming increased its stake in shares of Glaukos by 2.3% during the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock valued at $487,000 after acquiring an additional 72 shares during the last quarter. Quadrant Capital Group LLC increased its position in Glaukos by 3.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock worth $345,000 after purchasing an additional 73 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Glaukos by 1.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after purchasing an additional 89 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Glaukos by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock valued at $495,000 after purchasing an additional 91 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Glaukos by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after buying an additional 100 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.