Truist Financial Cuts Glaukos (NYSE:GKOS) Price Target to $120.00

Glaukos (NYSE:GKOS) had its target price reduced by Truist Financial from $126.00 to $120.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also commented on GKOS. Zacks Research lowered Glaukos from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. William Blair raised Glaukos to a “strong-buy” rating in a research note on Thursday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Glaukos in a research note on Wednesday, September 10th. UBS Group lifted their price objective on Glaukos from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Glaukos from $86.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $123.58.

Glaukos Stock Performance

Shares of GKOS stock opened at $82.81 on Monday. The business’s 50-day moving average price is $90.40 and its 200-day moving average price is $94.22. Glaukos has a 12 month low of $77.10 and a 12 month high of $163.71. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -50.19 and a beta of 0.77. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The firm had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same period last year, the firm posted ($0.52) earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. Equities research analysts forecast that Glaukos will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Glaukos

A number of hedge funds have recently added to or reduced their stakes in GKOS. Norges Bank bought a new stake in Glaukos in the second quarter worth approximately $76,314,000. Primecap Management Co. CA increased its holdings in Glaukos by 50.0% in the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after purchasing an additional 609,523 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Glaukos by 56.5% in the first quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier’s stock worth $125,735,000 after purchasing an additional 461,386 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Glaukos in the second quarter worth approximately $41,946,000. Finally, William Blair Investment Management LLC increased its holdings in Glaukos by 52.4% in the second quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier’s stock worth $117,347,000 after purchasing an additional 390,805 shares in the last quarter. 99.04% of the stock is currently owned by 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.