Glaukos (NYSE:GKOS) Price Target Raised to $153.00

Glaukos (NYSE:GKOS) had its target price hoisted by Stifel Nicolaus from $145.00 to $153.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the subject of several other research reports. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler set a $140.00 price target on shares of Glaukos in a report on Thursday, October 17th. BTIG Research boosted their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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, Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.18.

Glaukos Price Performance

GKOS opened at $138.27 on Monday. The company has a fifty day moving average price of $134.76 and a two-hundred day moving average price of $125.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos has a 52 week low of $59.58 and a 52 week high of $146.86. The firm has a market capitalization of $7.62 billion, a PE ratio of -45.78 and a beta of 1.03.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping 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 analyst estimates of $91.50 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, analysts anticipate that Glaukos will post -1.91 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Assenagon Asset Management S.A. bought a new position in Glaukos in the 2nd quarter valued at about $6,832,000. WCM Investment Management LLC raised its holdings in Glaukos by 45.7% in 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 bought a new position in Glaukos in the 3rd quarter valued at about $12,520,000. Victory Capital Management Inc. raised its holdings in Glaukos by 421.8% in 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 bought a new position in Glaukos in the 2nd quarter valued at about $1,940,000. 99.04% of the stock is owned by 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.