Glaukos (NYSE:GKOS) Coverage Initiated at UBS Group

UBS Group started coverage on shares of Glaukos (NYSE:GKOS) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage set a “neutral” rating on the medical instruments supplier’s stock.

Other research analysts also recently issued research reports about the company. Citigroup upped their price objective on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen cut Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Truist Financial boosted their price target on shares of Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus raised their price objective on shares of Glaukos from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Price Performance

Glaukos stock opened at $152.07 on Tuesday. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.53. The company’s 50 day moving average price is $136.04 and its two-hundred day moving average price is $123.80. The stock has a market cap of $8.93 billion, a P/E ratio of -46.36 and a beta of 0.75. 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 issued its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.Glaukos’s revenue was up 41.2% on a year-over-year basis. During the same period last year, the business posted ($0.22) earnings per share. On average, equities analysts predict that Glaukos will post -0.57 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. This represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,273 shares of company stock valued at $8,882,003. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp increased its stake in shares of Glaukos by 1,715.4% in the fourth 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. Los Angeles Capital Management LLC purchased a new stake in shares of Glaukos during the 4th quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 226 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Glaukos by 111.4% in the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 215 shares during the period. Institutional investors own 99.04% of the company’s stock.

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.