Glaukos (NYSE:GKOS) Given New $185.00 Price Target at Truist Financial

Glaukos (NYSE:GKOS) had its target price boosted by Truist Financial from $152.00 to $185.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other reports. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their price target on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their target price on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.92.

Glaukos Stock Performance

Shares of GKOS stock traded up $0.86 during mid-day trading on Wednesday, reaching $146.00. The stock had a trading volume of 36,078 shares, compared to its average volume of 572,368. Glaukos has a one year low of $74.75 and a one year high of $147.65. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $137.26 and its 200 day simple moving average is $127.64. The firm has a market cap of $8.05 billion, a PE ratio of -48.34 and a beta of 1.03.

Glaukos (NYSE:GKOS) last issued 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. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.50) earnings per share. On average, analysts forecast that Glaukos will post -1.89 EPS for the current year.

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. Wellington Management Group LLP grew its position in Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after acquiring an additional 1,630,270 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Glaukos in the 2nd quarter worth about $67,460,000. Primecap Management Co. CA increased its position in shares of Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after purchasing an additional 372,180 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after purchasing an additional 246,322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Glaukos by 47.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.