Glaukos Corporation (NYSE:GKOS) Stock Rated “Moderate Buy” by Wall Street Brokerages

Glaukos Corporation (NYSE:GKOS) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $180.77.

Several equities research analysts have recently issued reports on GKOS shares. Truist Financial raised their price objective on Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research note on Friday, July 17th. HC Wainwright increased their target price on Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Needham & Company LLC raised their price target on Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price target on Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 30th.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,908,787.78. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. This trade represents a 45.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 93,025 shares of company stock valued at $16,550,006. Insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in Glaukos during the 2nd quarter worth approximately $28,000. CoreCap Advisors LLC purchased a new position in Glaukos in the third quarter valued at approximately $33,000. IFP Advisors Inc lifted its position in Glaukos by 523.4% during the second quarter. IFP Advisors Inc now owns 293 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 246 shares in the last quarter. Parallel Advisors LLC lifted its position in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Glaukos by 25.4% during the third quarter. Farther Finance Advisors LLC now owns 681 shares of the medical instruments supplier’s stock valued at $112,000 after buying an additional 138 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $168.36 on Tuesday. The company has a market cap of $9.93 billion, a PE ratio of -51.80 and a beta of 0.69. Glaukos has a 12 month low of $73.16 and a 12 month high of $191.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. The company has a 50-day simple moving average of $172.92 and a 200-day simple moving average of $146.59.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The business had revenue of $185.61 million during the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company’s revenue was up 49.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) earnings per share. On average, equities analysts anticipate that Glaukos will post -0.32 earnings per share for the current year.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company’s primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients’ dependence on glaucoma medications.

Glaukos’ glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye’s natural fluid outflow.