Glaukos (NYSE:GKOS) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Glaukos (NYSE:GKOS) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and set a $240.00 price target (up from $195.00) on shares of Glaukos in a research report on Thursday, October 29th. JPMorgan Chase & Co. boosted their price objective on Glaukos from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Stifel Nicolaus boosted their price objective on Glaukos from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Jefferies Financial Group upped their price objective on Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Finally, Citigroup increased their target price on Glaukos from $225.00 to $247.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.71.

Glaukos Price Performance

GKOS opened at $223.96 on Friday. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of -76.18 and a beta of 0.68. Glaukos has a fifty-two week low of $80.90 and a fifty-two week high of $255.18. The company’s 50-day moving average price is $178.24 and its 200 day moving average price is $144.09. The company has a quick ratio of 4.09, a current ratio of 4.57 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.57. Glaukos had a negative net margin of 24.60% and a negative return on equity of 0.97%. The firm had revenue of $211.03 million for the quarter, compared to analysts’ expectations of $168.04 million. During the same quarter last year, the company posted ($0.16) earnings per share. Glaukos’s revenue was up 58.0% on a year-over-year basis. As a group, sell-side analysts expect that Glaukos will post 0.50 earnings per share for the current year.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the sale, the chief operating officer owned 72,588 shares in the company, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 2,500 shares of Glaukos stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the sale, the director directly owned 37,406 shares in the company, valued at approximately $9,463,718. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,000 shares of company stock valued at $11,891,900 over the last three months. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valued Retirements Inc. bought a new stake in Glaukos during the 3rd quarter valued at $263,000. Russell Investments Group Ltd. boosted its position in Glaukos by 24.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 37,350 shares of the medical instruments supplier’s stock worth $6,133,000 after acquiring an additional 7,265 shares during the period. Maryland State Retirement & Pension System boosted its position in Glaukos by 53.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 13,143 shares of the medical instruments supplier’s stock worth $2,158,000 after acquiring an additional 4,600 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Glaukos in the third quarter worth $7,241,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Glaukos by 17.7% in the third quarter. Illinois Municipal Retirement Fund now owns 30,142 shares of the medical instruments supplier’s stock worth $4,949,000 after purchasing an additional 4,528 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period.

The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.