Glaukos (NYSE:GKOS) Price Target Raised to $120.00

Glaukos (NYSE:GKOSFree Report) had its price objective boosted by Morgan Stanley from $100.00 to $120.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also weighed in on GKOS. Mizuho raised their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 11th. Jefferies Financial Group raised Glaukos from a hold rating to a buy rating and lifted their price target for the stock from $84.00 to $125.00 in a report on Monday, May 6th. Stifel Nicolaus increased their price objective on Glaukos from $110.00 to $130.00 and gave the company a buy rating in a report on Wednesday, June 5th. Needham & Company LLC raised their target price on Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, Citigroup downgraded Glaukos from a buy rating to a neutral rating and upped their price target for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $120.64.

Read Our Latest Report on Glaukos

Glaukos Trading Down 1.2 %

GKOS opened at $124.14 on Monday. The business has a fifty day moving average price of $114.30 and a 200 day moving average price of $99.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. Glaukos has a 12 month low of $59.22 and a 12 month high of $126.96. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -43.10 and a beta of 1.06.

Glaukos (NYSE:GKOSGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.59) earnings per share. Sell-side analysts expect that Glaukos will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 442 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total value of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at $5,505,392.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Alex R. Thurman sold 442 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $105.69, for a total value of $46,714.98. Following the transaction, the chief financial officer now owns 52,090 shares in the company, valued at approximately $5,505,392.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 32,360 shares of the company’s stock, valued at $3,650,208. The disclosure for this sale can be found here. Insiders sold a total of 21,444 shares of company stock worth $2,411,171 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds have recently made changes to their positions in GKOS. Dimensional Fund Advisors LP increased its stake in shares of Glaukos by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after acquiring an additional 31,213 shares during the period. Jump Financial LLC raised its stake in shares of Glaukos by 513.3% during the 4th quarter. Jump Financial LLC now owns 47,589 shares of the medical instruments supplier’s stock worth $3,783,000 after buying an additional 39,829 shares in the last quarter. Norges Bank purchased a new position in shares of Glaukos during the 4th quarter worth approximately $28,807,000. Nomura Holdings Inc. lifted its holdings in shares of Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock valued at $18,444,000 after buying an additional 7,146 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Glaukos in the fourth quarter valued at approximately $608,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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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.

Further Reading

Analyst Recommendations for Glaukos (NYSE:GKOS)

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