Glaukos (NYSE:GKOS) Price Target Raised to $113.00 at Needham & Company LLC

Glaukos (NYSE:GKOS) had its price target lifted by Needham & Company LLC from $108.00 to $113.00 in a research note published on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts also recently commented on the company. Citigroup increased their price target on Glaukos from $107.00 to $120.00 and gave the company a buy rating in a report on Monday, March 25th. Truist Financial reiterated a buy rating and set a $110.00 target price on shares of Glaukos in a research note on Monday, April 8th. Stifel Nicolaus restated a buy rating and issued a $110.00 price target on shares of Glaukos in a research note on Wednesday, April 3rd. Mizuho increased their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Finally, StockNews.com cut shares of Glaukos from a hold rating to a sell rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $107.00.

Glaukos Stock Performance

Shares of NYSE GKOS traded up $1.48 during trading on Thursday, reaching $106.51. 507,497 shares of the stock were exchanged, compared to its average volume of 497,055. The business’s 50-day moving average price is $93.33 and its 200 day moving average price is $82.87. The company has a current ratio of 5.38, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Glaukos has a twelve month low of $49.19 and a twelve month high of $108.22.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.59) EPS. Equities analysts predict that Glaukos will post -2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark J. Foley sold 4,560 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total value of $423,487.20. Following the sale, the director now owns 33,220 shares of the company’s stock, valued at approximately $3,085,141.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Glaukos news, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,232,367.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark J. Foley sold 4,560 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the transaction, the director now directly owns 33,220 shares in the company, valued at $3,085,141.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new position in Glaukos in the fourth quarter worth approximately $608,000. Natixis Advisors L.P. increased its stake in shares of Glaukos by 4.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock worth $2,557,000 after purchasing an additional 1,298 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Glaukos by 26.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock valued at $3,329,000 after purchasing an additional 8,884 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Glaukos by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock valued at $29,106,000 after purchasing an additional 20,415 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in Glaukos in the third quarter worth $6,367,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.