Glaukos Co. (NYSE:GKOS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Glaukos Co. (NYSE:GKOS) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $145.92.

GKOS has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Stephens upgraded shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. boosted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price objective on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th.

Insider Activity

In related news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,603 shares of company stock worth $2,605,678 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after acquiring an additional 1,630,270 shares during the last quarter. State Street Corp lifted its stake in Glaukos by 5.3% in the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares during the last quarter. Fred Alger Management LLC grew its holdings in Glaukos by 3.8% during the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock worth $151,337,000 after purchasing an additional 47,308 shares during the period. Primecap Management Co. CA increased its position in Glaukos by 2.0% during the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock worth $162,223,000 after buying an additional 24,370 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Glaukos by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Trading Down 1.0 %

GKOS opened at $151.16 on Wednesday. Glaukos has a fifty-two week low of $74.75 and a fifty-two week high of $153.50. The company has a market cap of $8.33 billion, a price-to-earnings ratio of -50.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a 50 day simple moving average of $140.18 and a 200 day simple moving average of $129.42.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the previous year, the company posted ($0.50) EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Glaukos will post -1.89 earnings per share for the current year.

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.