Glaukos (NYSE:GKOS) Upgraded by HC Wainwright to Strong-Buy Rating

Glaukos (NYSE:GKOS) was upgraded by research analysts at HC Wainwright to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on GKOS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Wells Fargo & Company upped their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. BTIG Research reiterated a “buy” rating and set a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. Finally, Citigroup raised their price target on Glaukos from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.62.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $0.25 on Monday, reaching $148.45. 72,309 shares of the company’s stock were exchanged, compared to its average volume of 883,709. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of -45.11 and a beta of 0.75. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $150.26. The business’s 50-day moving average is $129.86 and its two-hundred day moving average is $119.65. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. During the same period last year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. As a group, equities research analysts forecast that Glaukos will post -0.57 EPS for the current year.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the sale, the director owned 35,528 shares in the company, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares in the company, valued at approximately $10,538,563.26. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 41,273 shares of company stock valued at $5,832,003. 5.90% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Large investors have recently added to or reduced their stakes in the business. Wealth Alliance LLC raised its stake in Glaukos by 4.5% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock valued at $247,000 after acquiring an additional 98 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Glaukos by 9.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock worth $158,000 after purchasing an additional 122 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. CWM LLC increased its holdings in shares of Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 143 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Glaukos by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after purchasing an additional 144 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

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.