Glaukos (NYSE:GKOS) Earns “Overweight” Rating from Piper Sandler

Glaukos (NYSE:GKOS)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a report issued on Monday,Benzinga reports. They presently have a $180.00 target price on the medical instruments supplier’s stock, up from their previous target price of $140.00. Piper Sandler’s price objective suggests a potential upside of 11.99% from the stock’s previous close.

Several other brokerages also recently issued reports on GKOS. BTIG Research boosted their target price on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stephens raised Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Truist Financial increased their price target on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $151.08.

Glaukos Trading Up 0.3 %

Glaukos stock opened at $160.73 on Monday. Glaukos has a 12-month low of $83.90 and a 12-month high of $163.71. The stock has a market capitalization of $8.86 billion, a PE ratio of -53.11 and a beta of 1.04. The firm has a 50 day simple moving average of $147.76 and a 200-day simple moving average of $134.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company posted ($0.50) EPS. As a group, equities research analysts expect that Glaukos will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,859,454.08. This represents a 23.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their position. 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 Trading of Glaukos

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of 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 period. State Street Corp increased its holdings in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after purchasing an additional 98,109 shares during the period. Primecap Management Co. CA raised its position in shares of 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 valued at $162,223,000 after buying an additional 24,370 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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. Finally, Loomis Sayles & Co. L P increased its stake in Glaukos by 21.6% during the third quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock valued at $87,776,000 after acquiring an additional 119,527 shares during the period. Institutional investors 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.