Glaukos Corporation (NYSE:GKOS) Receives $154.85 Consensus Price Target from Analysts

Glaukos Corporation (NYSE:GKOS) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $154.8462.

GKOS has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. HC Wainwright began coverage on Glaukos in a research note on Monday, July 6th. They set a “buy” rating and a $168.00 price target for the company. Wall Street Zen cut Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Stifel Nicolaus boosted their price objective on Glaukos from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 19,573 shares of the business’s 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 owned 73,419 shares in the company, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares of the company’s stock, valued at $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,273 shares of company stock valued at $8,882,003 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Glaukos by 2.6% during the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after buying an additional 198 shares during the period. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 valued at $22,636,000 after acquiring an additional 67,668 shares during the period. M&T Bank Corp purchased a new position in Glaukos in the 2nd quarter worth $203,000. Finally, Gamco Investors INC. ET AL raised its stake in Glaukos by 10.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock worth $826,000 after acquiring an additional 773 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 0.8%

Shares of GKOS opened at $153.40 on Thursday. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of -46.77 and a beta of 0.75. Glaukos has a 1 year low of $73.16 and a 1 year high of $161.53. The business’s 50 day simple moving average is $135.85 and its 200-day simple moving average is $123.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business’s revenue was up 41.2% on a year-over-year basis. During the same period last year, the company posted ($0.22) EPS. As a group, equities analysts expect that Glaukos will post -0.57 earnings per share for the current fiscal year.

Glaukos Company Profile

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.