Glaukos (NYSE:GKOS) PT Raised to $120.00

Glaukos (NYSE:GKOS) had its target price upped by equities researchers at Morgan Stanley from $100.00 to $120.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical instruments supplier’s stock. Morgan Stanley’s target price points to a potential downside of 4.56% from the stock’s current price.

A number of other analysts also recently weighed in on GKOS. Needham & Company LLC increased their price objective on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Finally, BTIG Research increased their price objective on Glaukos from $112.00 to $131.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Glaukos Stock Performance

NYSE:GKOS opened at $125.74 on Monday. The stock’s 50-day moving average is $113.96 and its 200-day moving average is $99.79. The stock has a market cap of $6.33 billion, a P/E ratio of -43.66 and a beta of 1.06. Glaukos has a 1-year low of $59.22 and a 1-year high of $126.37. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.59) earnings per share. Equities research analysts anticipate that Glaukos will post -2.24 earnings per share for the current year.

Insider Activity

In related news, Director Marc Stapley sold 6,250 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $112.80, for a total value of $705,000.00. Following the transaction, the director now directly owns 32,360 shares in the company, valued at approximately $3,650,208. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Glaukos news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $112.80, for a total transaction of $705,000.00. Following the completion of the transaction, the director now owns 32,360 shares in the company, valued at approximately $3,650,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,059 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.52, for a total value of $217,265.68. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $10,746,684.40. The disclosure for this sale can be found here. Insiders sold a total of 21,444 shares of company stock worth $2,411,171 over the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Glaukos during the 4th quarter valued at $46,000. GAMMA Investing LLC bought a new stake in shares of Glaukos during the 4th quarter valued at $55,000. Quadrant Capital Group LLC boosted its holdings in Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. boosted its position in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after acquiring an additional 1,465 shares during the last quarter. Finally, LVW Advisors LLC purchased a new position in Glaukos in the second quarter worth $213,000. Institutional investors own 99.04% of the company’s stock.

About Glaukos

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