Glaukos (NYSE:GKOS) Given New $149.00 Price Target at BTIG Research

Glaukos (NYSE:GKOS) had its target price lifted by BTIG Research from $140.00 to $149.00 in a research report sent to investors on Tuesday morning,Benzinga reports. BTIG Research currently has a buy rating on the medical instruments supplier’s stock.

GKOS has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC raised their target price on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler set a $140.00 target price on Glaukos in a research note on Thursday, October 17th. Finally, Truist Financial raised their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.45.

Glaukos Stock Up 0.8 %

NYSE GKOS opened at $143.81 on Tuesday. The business has a fifty day moving average price of $133.81 and a 200 day moving average price of $124.52. Glaukos has a one year low of $59.58 and a one year high of $146.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a market cap of $7.93 billion, a P/E ratio of -47.62 and a beta of 1.02.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data 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 return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same period in the prior year, the company earned ($0.50) EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. Research analysts anticipate that Glaukos will post -1.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Glaukos during the 2nd quarter valued at about $6,832,000. WCM Investment Management LLC boosted its holdings in Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after acquiring an additional 31,084 shares during the period. First Turn Management LLC purchased a new position in Glaukos during the 3rd quarter valued at about $12,520,000. Victory Capital Management Inc. boosted its holdings in Glaukos by 421.8% during the 3rd quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after acquiring an additional 64,031 shares during the period. Finally, Seven Eight Capital LP purchased a new position in Glaukos during the 2nd quarter valued at about $1,940,000. 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.