Glaukos (NYSE:GKOS) PT Raised to $112.00

Glaukos (NYSE:GKOS) had its price target raised by investment analysts at BTIG Research from $107.00 to $112.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price indicates a potential upside of 5.15% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on GKOS. Wells Fargo & Company lifted their price target on Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup lifted 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. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. Truist Financial reissued a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Glaukos in a report on Thursday. Finally, StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

Glaukos Stock Performance

Shares of GKOS traded up $1.48 during mid-day trading on Thursday, reaching $106.51. 507,497 shares of the company’s stock traded hands, 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 debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.38. Glaukos has a 12 month low of $49.19 and a 12 month high of $108.22.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted ($0.59) EPS. Equities research analysts forecast that Glaukos will post -2.16 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at approximately $5,281,567.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at approximately $5,281,567.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alex R. Thurman sold 474 shares of Glaukos stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total transaction of $42,835.38. Following the transaction, the chief financial officer now owns 54,916 shares in the company, valued at $4,962,758.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,881 shares of company stock valued at $21,965,491. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently added to or reduced their stakes in GKOS. Commonwealth Equity Services LLC grew its holdings in shares of Glaukos by 20.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock valued at $420,000 after acquiring an additional 959 shares in the last quarter. Xponance Inc. purchased a new position in shares of Glaukos during the 3rd quarter valued at $208,000. Raymond James & Associates grew its holdings in shares of Glaukos by 18.9% during the 3rd quarter. Raymond James & Associates now owns 12,898 shares of the medical instruments supplier’s stock valued at $971,000 after acquiring an additional 2,053 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Glaukos by 10.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,916 shares of the medical instruments supplier’s stock valued at $746,000 after acquiring an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Glaukos during the 3rd quarter valued at $203,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.