Glaukos Corporation (NYSE:GKOS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Glaukos Corporation (NYSE:GKOS) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $178.0833.

Several brokerages have commented on GKOS. HC Wainwright upped their price objective on Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Citigroup lifted their target price on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Friday, July 17th. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, UBS Group began coverage on shares of Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective for the company.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the transaction, the chief financial officer directly owned 43,906 shares in the company, valued at $7,908,787.78. The trade was a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 113,025 shares of company stock worth $19,600,006. Insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Glaukos in the second quarter worth about $1,333,318,000. Jupiter Topco LLC purchased a new position in Glaukos during the 2nd quarter valued at about $679,614,000. Janus Henderson Group PLC raised its holdings in shares of Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Glaukos in the 2nd quarter valued at about $424,969,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Glaukos by 209.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after purchasing an additional 913,458 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Stock Down 1.4%

Shares of NYSE:GKOS opened at $161.15 on Friday. Glaukos has a 1 year low of $73.16 and a 1 year high of $191.62. The business has a 50 day simple moving average of $171.25 and a two-hundred day simple moving average of $139.92. The firm has a market capitalization of $9.50 billion, a PE ratio of -49.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 49.6% on a year-over-year basis. On average, equities analysts predict that Glaukos will post -0.32 EPS for the current year.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products designed to treat glaucoma, corneal disorders and other eye conditions. The company’s technologies are intended to provide alternatives to traditional treatments and support earlier intervention in the management of progressive eye disease.

Glaukos is best known for its portfolio of micro-invasive glaucoma surgery products, including the iStent family of implantable devices.