Glaukos Corporation (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Brokerages

Glaukos Corporation (NYSE:GKOS) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $134.67.

A number of equities analysts have recently commented on GKOS shares. Piper Sandler cut their target price on shares of Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company downgraded shares of Glaukos from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Mizuho cut their target price on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC dropped 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, May 1st. Finally, Morgan Stanley dropped their price target on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 6th.

Glaukos Stock Performance

Shares of GKOS stock opened at $100.32 on Wednesday. The company’s fifty day simple moving average is $93.91 and its 200-day simple moving average is $118.35. Glaukos has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09. The company has a market cap of $5.73 billion, a PE ratio of -42.33 and a beta of 0.80.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The business had revenue of $106.66 million for the quarter, compared to the consensus estimate of $102.78 million. During the same quarter last year, the firm posted ($0.70) EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Glaukos will post -1.08 EPS for the current year.

Insider Transactions at Glaukos

In other news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. The trade was a 2.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GKOS. Bessemer Group Inc. boosted its stake in Glaukos by 133.9% during the 1st 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 Glaukos by 3,957.1% during the 1st 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. IFP Advisors Inc acquired a new position in Glaukos during the 4th quarter valued at about $43,000. First Horizon Advisors Inc. lifted its stake in shares of Glaukos by 72.9% in the 1st 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 period. Finally, Versant Capital Management Inc lifted its stake in shares of Glaukos by 583.9% in the 1st 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 during the period. 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.