Glaukos (NYSE:GKOS) Price Target Raised to $131.00

Glaukos (NYSE:GKOS) had its price objective boosted by research analysts at BTIG Research from $123.00 to $131.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price indicates a potential upside of 4.48% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research report on Wednesday, January 14th. Wells Fargo & Company increased their price objective on Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group boosted their target price on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Citigroup upped their target price on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. lifted their price target on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $132.54.

Glaukos Stock Up 5.6%

NYSE GKOS traded up $6.68 during trading on Wednesday, reaching $125.38. 484,516 shares of the company’s stock were exchanged, compared to its average volume of 880,295. The company has a current ratio of 5.20, a quick ratio of 4.47 and a debt-to-equity ratio of 0.09. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $161.78. The company’s fifty day simple moving average is $111.79 and its 200-day simple moving average is $96.40. The firm has a market capitalization of $7.20 billion, a PE ratio of -81.57 and a beta of 0.67.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The business had revenue of $133.54 million during the quarter, compared to analyst estimates of $122.55 million. During the same period in the prior year, the firm earned ($0.28) earnings per share. The firm’s revenue was up 38.1% compared to the same quarter last year. Sell-side analysts predict that Glaukos will post -1.08 EPS for the current year.

Insider Activity at Glaukos

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the transaction, the chief executive officer owned 153,775 shares in the company, valued at $17,684,125. This trade represents a 54.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the transaction, the director directly owned 34,905 shares in the company, valued at approximately $3,744,259.35. This represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 329,655 shares of company stock worth $37,752,234 in the last 90 days. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after acquiring an additional 198 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Glaukos by 1,405.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after purchasing an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Glaukos by 41.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after purchasing an additional 67,668 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Glaukos by 11.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 34,021 shares of the medical instruments supplier’s stock worth $3,513,000 after purchasing an additional 3,470 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of Glaukos by 12.3% during the 2nd quarter. Avior Wealth Management LLC now owns 3,800 shares of the medical instruments supplier’s stock worth $393,000 after purchasing an additional 416 shares during the period. 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.