Glaukos (NYSE:GKOS) Given New $175.00 Price Target at Mizuho

Glaukos (NYSE:GKOS) had its target price reduced by Mizuho from $200.00 to $175.00 in a research report report published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the medical instruments supplier’s stock.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Wells Fargo & Company upped their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Piper Sandler cut their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC upped their target price on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Truist Financial dropped their price target on Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.17.

Glaukos Stock Down 6.0 %

Shares of Glaukos stock opened at $88.82 on Wednesday. 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 has a 52-week low of $77.91 and a 52-week high of $163.71. The company has a market capitalization of $5.02 billion, a P/E ratio of -30.95 and a beta of 0.88. The company has a 50 day moving average of $110.40 and a 200 day moving average of $131.88.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, research analysts forecast that Glaukos will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in shares of Glaukos by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after acquiring an additional 103 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Glaukos by 37.7% during the third quarter. Stifel Financial Corp now owns 4,230 shares of the medical instruments supplier’s stock valued at $551,000 after acquiring an additional 1,157 shares in the last quarter. Barclays PLC increased its holdings in Glaukos by 394.4% during the 3rd quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier’s stock worth $11,686,000 after purchasing an additional 71,556 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Glaukos in the third quarter valued at $258,000. Finally, Tidal Investments LLC raised its stake in shares of Glaukos by 83.1% in the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock valued at $1,942,000 after purchasing an additional 6,767 shares in the last quarter. Institutional investors and hedge funds 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.