Glaukos Corporation (NYSE:GKOS) Receives $133.69 Average Price Target from Brokerages

Glaukos Corporation (NYSE:GKOS) has earned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $133.6923.

GKOS has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Citigroup upped their target price on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. BTIG Research reaffirmed a “buy” rating and set a $131.00 price target on shares of Glaukos in a research report on Wednesday, February 18th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $138.00 price objective on shares of Glaukos in a report on Friday, January 9th.

Glaukos Stock Performance

Shares of GKOS opened at $105.41 on Friday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -32.34 and a beta of 0.70. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $113.30 and its two-hundred day moving average is $101.72. Glaukos has a 52-week low of $73.16 and a 52-week high of $130.23.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) EPS. Analysts forecast that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 625 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.15, for a total transaction of $61,968.75. Following the sale, the chief financial officer directly owned 49,249 shares of the company’s stock, valued at approximately $4,883,038.35. This represents a 1.25% 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 10,498 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total value of $1,340,384.64. Following the transaction, the chief operating officer owned 92,366 shares in the company, valued at $11,793,290.88. This trade represents a 10.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 320,625 shares of company stock worth $37,264,878. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Janus Henderson Group PLC boosted its holdings in shares of Glaukos by 183.4% in the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after buying an additional 1,953,578 shares during the period. Primecap Management Co. CA lifted its holdings in Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock worth $152,476,000 after acquiring an additional 913,458 shares during the last quarter. Norges Bank acquired a new position in Glaukos in the second quarter valued at approximately $76,314,000. Finally, Millennium Management LLC boosted its stake in Glaukos by 75.3% in the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after acquiring an additional 691,289 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

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.