Analysts Set Glaukos Corporation (NYSE:GKOS) Target Price at $119.69

Shares of Glaukos Corporation (NYSE:GKOS) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $120.6154.

Several research firms recently commented on GKOS. Needham & Company LLC raised their price objective on shares of Glaukos from $117.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. raised their price target on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Citigroup boosted their price objective on Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus set a $115.00 target price on Glaukos in a research note on Monday, October 27th. Finally, Truist Financial set a $120.00 target price on Glaukos in a report on Thursday, October 30th.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 315 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the sale, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 19,340 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the completion of the transaction, the chief operating officer directly owned 92,366 shares of the company’s stock, valued at approximately $8,312,940. The trade was a 17.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 24,655 shares of company stock valued at $2,310,025. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Glaukos by 16.2% in the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 136 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Glaukos by 102.6% during the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 158 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of Glaukos by 68.4% during the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 162 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Glaukos by 0.4% during the second quarter. Harbor Capital Advisors Inc. now owns 39,305 shares of the medical instruments supplier’s stock valued at $4,060,000 after buying an additional 173 shares during the period. Finally, Focus Partners Wealth raised its stake in Glaukos by 6.9% in the third quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier’s stock worth $202,000 after buying an additional 176 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Trading Down 0.2%

Shares of GKOS opened at $109.00 on Wednesday. The business has a 50-day moving average of $91.77 and a 200 day moving average of $92.74. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $163.71. The firm has a market cap of $6.26 billion, a P/E ratio of -70.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.11. The business had revenue of $133.54 million for the quarter, compared to the consensus estimate of $122.55 million. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company’s revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. As a group, research analysts forecast that Glaukos will post -1.08 EPS for the current year.

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.