Glaukos Co. (NYSE:GKOS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Glaukos Co. (NYSE:GKOS) have received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $127.73.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. BTIG Research raised their target price on Glaukos from $112.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Truist Financial reiterated a “buy” rating and set a $145.00 price target (up from $141.00) on shares of Glaukos in a research report on Thursday. Finally, Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and increased their price target for the stock from $84.00 to $125.00 in a report on Monday, May 6th.

Glaukos Stock Up 0.5 %

Shares of NYSE GKOS opened at $117.73 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. The stock has a market capitalization of $5.93 billion, a PE ratio of -40.88 and a beta of 1.06. Glaukos has a one year low of $59.22 and a one year high of $126.96. The business’s fifty day moving average price is $116.46 and its 200-day moving average price is $102.62.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. During the same period in the prior year, the firm earned ($0.55) earnings per share. The company’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts anticipate that Glaukos will post -2.25 EPS for the current year.

Insider Activity

In other Glaukos news, Director Marc Stapley sold 6,250 shares of the firm’s 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 sale, the director now owns 32,360 shares in the company, valued at $3,650,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Alex R. Thurman sold 353 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the completion of the sale, the chief financial officer now directly owns 51,647 shares in the company, valued at approximately $5,707,509.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total transaction of $705,000.00. Following the completion of the sale, the director now directly owns 32,360 shares of the company’s stock, valued at approximately $3,650,208. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,943 shares of company stock worth $2,147,190. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Glaukos in the 4th quarter worth approximately $28,807,000. Allspring Global Investments Holdings LLC increased its stake in shares of Glaukos by 148.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after buying an additional 246,322 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Glaukos during the 4th quarter valued at $15,065,000. Iron Triangle Partners LP boosted its position in Glaukos by 75.6% during the 1st quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock valued at $40,500,000 after buying an additional 184,919 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Glaukos by 23.7% in the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after acquiring an additional 151,415 shares during the last quarter. 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.