Glaukos (NYSE:GKOS) Given New $153.00 Price Target at Wells Fargo & Company

Glaukos (NYSE:GKOS) had its price objective hoisted by research analysts at Wells Fargo & Company from $145.00 to $153.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.12% from the company’s previous close.

Several other research firms have also recently issued reports on GKOS. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research report on Monday, December 2nd. Truist Financial lifted their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. UBS Group assumed coverage on shares of Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. BTIG Research raised their price objective on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $143.17.

Glaukos Stock Performance

NYSE:GKOS traded up $7.80 on Wednesday, hitting $144.18. The stock had a trading volume of 114,137 shares, compared to its average volume of 566,987. The business’s 50-day simple moving average is $135.53 and its two-hundred day simple moving average is $126.38. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of -47.78 and a beta of 1.03. Glaukos has a 52-week low of $59.58 and a 52-week high of $146.86. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the firm posted ($0.50) EPS. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, research analysts predict that Glaukos will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Glaukos by 80.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after acquiring an additional 6,948 shares in the last quarter. Tidal Investments LLC increased its position in shares of Glaukos by 83.1% during the third quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after purchasing an additional 6,767 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Glaukos during the 3rd quarter valued at $258,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Glaukos by 84.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock worth $3,709,000 after purchasing an additional 13,019 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Glaukos by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock worth $152,722,000 after purchasing an additional 66,134 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.