Glaukos (NYSE:GKOS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Glaukos (NYSE:GKOS) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus increased their price target on Glaukos from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Citigroup boosted their price objective on Glaukos from $225.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. JPMorgan Chase & Co. boosted their price objective on Glaukos from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Needham & Company LLC upped their price objective on Glaukos from $201.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 target price (up from $195.00) on shares of Glaukos in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $216.71.

Glaukos Price Performance

NYSE GKOS opened at $239.02 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.57 and a debt-to-equity ratio of 0.09. Glaukos has a one year low of $83.78 and a one year high of $255.18. The company has a 50-day simple moving average of $179.42 and a 200-day simple moving average of $144.66.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.57. Glaukos had a negative net margin of 24.60% and a negative return on equity of 0.97%. The firm had revenue of $211.03 million for the quarter, compared to analyst estimates of $168.04 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Glaukos’s quarterly revenue was up 58.0% on a year-over-year basis. Equities analysts forecast that Glaukos will post 0.50 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert Kliman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $253.00, for a total value of $632,500.00. Following the completion of the transaction, the director directly owned 37,406 shares of the company’s stock, valued at $9,463,718. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of Glaukos by 14.4% during the 3rd quarter. Parallel Advisors LLC now owns 438 shares of the medical instruments supplier’s stock valued at $72,000 after buying an additional 55 shares during the last quarter. State of Wyoming grew its stake in shares of Glaukos by 6.8% in the 3rd quarter. State of Wyoming now owns 1,030 shares of the medical instruments supplier’s stock valued at $169,000 after buying an additional 66 shares in the last quarter. Fulcrum Asset Management LLP increased its holdings in Glaukos by 91.7% in the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Wealth Alliance LLC increased its holdings in Glaukos by 4.5% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock worth $247,000 after buying an additional 98 shares during the last quarter. Finally, Abel Hall LLC increased its holdings in Glaukos by 3.5% in the third quarter. Abel Hall LLC now owns 3,236 shares of the medical instruments supplier’s stock worth $531,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period.

The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.