Brokerages Set Glaukos Corporation (NYSE:GKOS) PT at $149.17

Glaukos Corporation (NYSE:GKOS) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $149.1667.

A number of brokerages recently weighed in on GKOS. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. BTIG Research reaffirmed a “buy” rating and set a $162.00 target price on shares of Glaukos in a research report on Wednesday, June 10th. Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. William Blair reissued an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a research note on Wednesday.

Glaukos Trading Up 7.2%

Glaukos stock opened at $147.49 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of -44.97 and a beta of 0.75. Glaukos has a one year low of $73.16 and a one year high of $148.62. The company’s fifty day moving average price is $128.79 and its two-hundred day moving average price is $119.15.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. On average, analysts forecast that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the completion of the sale, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at approximately $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,115,340. This represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 41,273 shares of company stock worth $5,832,003. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of the stock. First Horizon Corp boosted its stake in Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Glaukos during the 4th quarter worth about $28,000. Larson Financial Group LLC lifted its holdings in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares during the period. Parallel Advisors LLC boosted its position in shares of Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 215 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.