Needham & Company LLC Raises Glaukos (NYSE:GKOS) Price Target to $137.00

Glaukos (NYSE:GKOS) had its price target hoisted by Needham & Company LLC from $131.00 to $137.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Several other brokerages have also weighed in on GKOS. Truist Financial increased their price objective on shares of Glaukos from $125.00 to $141.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Stifel Nicolaus boosted their price target on Glaukos from $110.00 to $130.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. Mizuho boosted their target price on shares of Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Citigroup lowered shares of Glaukos from a buy rating to a neutral rating and raised their price target for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Finally, Jefferies Financial Group upgraded shares of Glaukos from a hold rating to a buy rating and boosted their price objective for the stock from $84.00 to $125.00 in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos currently has a consensus rating of Moderate Buy and an average target price of $127.73.

Glaukos Trading Down 1.3 %

Shares of Glaukos stock opened at $116.03 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.68. Glaukos has a 1 year low of $59.22 and a 1 year high of $126.96. The business has a 50 day moving average price of $116.81 and a 200 day moving average price of $102.92. The company has a market capitalization of $5.84 billion, a P/E ratio of -40.29 and a beta of 1.05.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.55) EPS. Sell-side analysts anticipate that Glaukos will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $12,362,964.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Glaukos news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the transaction, the director now directly owns 32,360 shares in the company, valued at $3,650,208. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. Insiders sold 18,943 shares of company stock worth $2,147,190 over the last ninety days. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Glaukos during the fourth quarter valued at $28,807,000. Allspring Global Investments Holdings LLC boosted its position in Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after acquiring an additional 246,322 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Glaukos during the 4th quarter valued at about $15,065,000. Iron Triangle Partners LP increased its holdings in shares of Glaukos by 75.6% in the 1st quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock valued at $40,500,000 after purchasing an additional 184,919 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Glaukos by 23.7% in the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after purchasing an additional 151,415 shares in the last quarter. Hedge funds and other 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.