Glaukos Co. (NYSE:GKOS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Glaukos Co. (NYSE:GKOS) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $129.82.

A number of analysts have recently issued reports on GKOS shares. Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Piper Sandler lifted their price target on Glaukos from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BTIG Research lifted their price target on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Insiders Place Their Bets

In other news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The disclosure for this sale can be found here. Insiders have sold a total of 41,500 shares of company stock worth $5,099,000 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of Glaukos by 8.8% during the 2nd quarter. Truist Financial Corp now owns 18,478 shares of the medical instruments supplier’s stock valued at $2,187,000 after acquiring an additional 1,490 shares in the last quarter. Creative Planning boosted its holdings in shares of Glaukos by 126.8% during the 2nd quarter. Creative Planning now owns 7,706 shares of the medical instruments supplier’s stock valued at $912,000 after acquiring an additional 4,309 shares in the last quarter. Algert Global LLC bought a new stake in Glaukos during the 2nd quarter worth approximately $598,000. Driehaus Capital Management LLC increased its position in Glaukos by 24.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after acquiring an additional 155,653 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Glaukos during the second quarter valued at $882,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $127.78 on Monday. Glaukos has a 52 week low of $59.22 and a 52 week high of $136.60. The stock has a market capitalization of $6.44 billion, a PE ratio of -44.37 and a beta of 1.03. The stock has a 50 day moving average price of $124.89 and a 200 day moving average price of $111.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. During the same period last year, the firm posted ($0.55) earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. Analysts predict that Glaukos will post -2.18 earnings per share for the current fiscal 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.