Glaukos (NYSE:GKOS) Trading 6% Higher Following Analyst Upgrade

Shares of Glaukos Corporation (NYSE:GKOS) traded up 6% during mid-day trading on Wednesday after BTIG Research raised their price target on the stock from $123.00 to $131.00. BTIG Research currently has a buy rating on the stock. Glaukos traded as high as $128.84 and last traded at $125.8350. 274,089 shares were traded during mid-day trading, a decline of 68% from the average session volume of 868,016 shares. The stock had previously closed at $118.70.

Several other analysts have also recently issued reports on GKOS. Truist Financial increased their target price on shares of Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research report on Wednesday, January 14th. The Goldman Sachs Group reissued a “buy” rating and set a $138.00 price objective on shares of Glaukos in a report on Friday, January 9th. Stephens upped their target price on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.54.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 19,340 shares of Glaukos stock in a transaction dated 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 sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at approximately $8,312,940. The trade was a 17.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the transaction, the chief executive officer directly owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 329,655 shares of company stock worth $37,752,234. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its position in 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 during the last quarter. First Horizon Corp increased its holdings in shares of Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 223 shares in the last quarter. REAP Financial Group LLC bought a new position in shares of Glaukos during the third quarter valued at $40,000. Park Place Capital Corp increased its holdings in Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 162 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 215 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

The stock has a market capitalization of $7.19 billion, a P/E ratio of -81.25 and a beta of 0.67. The business’s 50 day moving average price is $111.79 and its 200 day moving average price is $96.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.20 and a quick ratio of 4.47.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business had revenue of $133.54 million during 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 firm’s revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) EPS. Sell-side analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.