Glaukos (NYSE:GKOS) Price Target Raised to $145.00

Glaukos (NYSE:GKOS) had its price objective lifted by JPMorgan Chase & Co. from $130.00 to $145.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other analysts have also issued reports on GKOS. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Truist Financial upped their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC raised their price objective on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.55.

Glaukos Stock Performance

Glaukos stock opened at $127.69 on Tuesday. Glaukos has a fifty-two week low of $59.22 and a fifty-two week high of $139.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The stock has a market cap of $7.02 billion, a P/E ratio of -39.17 and a beta of 1.02. The firm’s fifty day moving average price is $129.48 and its 200-day moving average price is $120.20.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter last year, the business posted ($0.50) earnings per share. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts expect that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,525 shares of company stock worth $5,142,029 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Glaukos by 421.8% in the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after purchasing an additional 64,031 shares during the period. WCM Investment Management LLC boosted its holdings in shares of Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after buying an additional 31,084 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Glaukos in the 3rd quarter worth about $457,000. Crossmark Global Holdings Inc. increased its stake in shares of Glaukos by 15.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,051 shares of the medical instruments supplier’s stock worth $527,000 after acquiring an additional 554 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Glaukos by 4.5% in the 3rd quarter. Amalgamated Bank now owns 15,926 shares of the medical instruments supplier’s stock worth $2,075,000 after acquiring an additional 679 shares in 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.