Glaukos (NYSE:GKOS) PT Raised to $120.00 at Citigroup

Glaukos (NYSE:GKOS) had its target price boosted by Citigroup from $107.00 to $120.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts also recently weighed in on GKOS. Truist Financial reaffirmed a buy rating and issued a $110.00 target price on shares of Glaukos in a research note on Friday, March 22nd. Needham & Company LLC boosted their target price on shares of Glaukos from $105.00 to $108.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Morgan Stanley assumed coverage on shares of Glaukos in a research note on Monday, December 4th. They issued an equal weight rating and a $65.00 target price for the company. Piper Sandler boosted their target price on shares of Glaukos from $90.00 to $105.00 and gave the stock an overweight rating in a research note on Friday, December 22nd. Finally, JPMorgan Chase & Co. raised shares of Glaukos from a neutral rating to an overweight rating and boosted their target price for the stock from $66.00 to $91.00 in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $96.30.

Glaukos Price Performance

NYSE:GKOS opened at $92.69 on Monday. The firm has a market cap of $4.59 billion, a PE ratio of -33.34 and a beta of 1.08. Glaukos has a 12 month low of $45.38 and a 12 month high of $97.24. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $90.56 and its two-hundred day moving average price is $78.31.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. Glaukos’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.53) earnings per share. On average, equities analysts anticipate that Glaukos will post -2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the sale, the director now owns 30,620 shares of the company’s stock, valued at $2,702,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the sale, the director now owns 30,620 shares of the company’s stock, valued at $2,702,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 60,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $82.55, for a total transaction of $4,953,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,835 shares of the company’s stock, valued at approximately $4,609,179.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,183 shares of company stock worth $22,108,580. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Glaukos by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 481,228 shares of the medical instruments supplier’s stock valued at $27,825,000 after acquiring an additional 2,843 shares during the period. HighTower Advisors LLC bought a new position in shares of Glaukos in the 1st quarter valued at about $208,000. Natixis Advisors L.P. bought a new position in shares of Glaukos in the 1st quarter valued at about $674,000. Bank of Montreal Can grew its position in shares of Glaukos by 14.2% in the 1st quarter. Bank of Montreal Can now owns 20,031 shares of the medical instruments supplier’s stock valued at $1,164,000 after acquiring an additional 2,485 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Glaukos by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 25,057 shares of the medical instruments supplier’s stock valued at $1,449,000 after acquiring an additional 8,866 shares during the period. Institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.