Stephens Reaffirms “Overweight” Rating for Glaukos (GKOS)

Glaukos (NYSE:GKOS)‘s stock had its “overweight” rating restated by Stephens in a report issued on Monday, November 13th, The Fly reports. They currently have a $40.00 target price on the medical instruments supplier’s stock, down from their prior target price of $47.00. Stephens’ price target would suggest a potential upside of 51.69% from the stock’s current price.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Glaukos from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Friday, July 21st. Cantor Fitzgerald reissued a “buy” rating and issued a $60.00 price target (up from $54.00) on shares of Glaukos in a report on Thursday, September 14th. BidaskClub raised Glaukos from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $54.00 target price on shares of Glaukos in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $56.00 target price on shares of Glaukos in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.57.

Glaukos (GKOS) opened at $26.37 on Monday. Glaukos has a twelve month low of $23.44 and a twelve month high of $52.49. The stock has a market capitalization of $911.49 and a P/E ratio of 223.08.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. Glaukos had a positive return on equity of 3.50% and a negative net margin of 0.64%. The company had revenue of $40.41 million during the quarter, compared to the consensus estimate of $38.69 million. During the same period in the previous year, the company posted $0.03 earnings per share. Glaukos’s revenue for the quarter was up 36.6% on a year-over-year basis. research analysts anticipate that Glaukos will post -0.03 EPS for the current fiscal year.

In other news, CFO Joseph E. Gilliam purchased 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average cost of $23.84 per share, for a total transaction of $50,064.00. Following the completion of the transaction, the chief financial officer now owns 102,100 shares of the company’s stock, valued at $2,434,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas William Burns sold 1,212 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $41.25, for a total value of $49,995.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 655,200 shares of company stock valued at $25,573,013. Corporate insiders own 16.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GKOS. Prudential Financial Inc. purchased a new stake in shares of Glaukos during the first quarter worth approximately $204,000. FMR LLC purchased a new stake in shares of Glaukos during the first quarter worth approximately $7,323,000. Teachers Advisors LLC increased its position in shares of Glaukos by 6.2% during the first quarter. Teachers Advisors LLC now owns 29,512 shares of the medical instruments supplier’s stock worth $1,514,000 after purchasing an additional 1,723 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Glaukos in the 1st quarter valued at $390,000. Finally, Vanguard Group Inc. grew its holdings in Glaukos by 17.6% in the 1st quarter. Vanguard Group Inc. now owns 1,612,838 shares of the medical instruments supplier’s stock valued at $82,739,000 after buying an additional 241,772 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

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About Glaukos

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

The Fly

Analyst Recommendations for Glaukos (NYSE:GKOS)

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