Glaukos Corporation (NYSE:GKOS) Receives $119.69 Consensus PT from Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $120.6154.

GKOS has been the subject of several recent analyst reports. Zacks Research downgraded shares of Glaukos from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Wells Fargo & Company boosted their price objective on Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Truist Financial set a $120.00 price objective on Glaukos in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $115.00 price target on Glaukos in a report on Monday, October 27th.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 19,340 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the completion of the transaction, the chief operating officer owned 92,366 shares in the company, valued at approximately $8,312,940. This represents a 17.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 315 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the transaction, the chief financial officer directly owned 50,488 shares of the company’s stock, valued at $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,655 shares of company stock valued at $2,310,025. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Glaukos during the second quarter valued at approximately $76,314,000. Primecap Management Co. CA increased its stake in Glaukos by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after acquiring an additional 609,523 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Glaukos by 38.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock worth $141,365,000 after acquiring an additional 481,620 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Glaukos during the 2nd quarter valued at approximately $41,946,000. Finally, William Blair Investment Management LLC grew its holdings in shares of Glaukos by 52.4% in the second quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier’s stock valued at $117,347,000 after purchasing an additional 390,805 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Trading Down 0.2%

Glaukos stock opened at $109.00 on Wednesday. Glaukos has a 12-month low of $73.16 and a 12-month high of $163.71. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of -70.78 and a beta of 0.69. The firm has a 50 day moving average of $91.77 and a 200 day moving average of $92.79. The company has a current ratio of 5.20, a quick ratio of 4.47 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business had revenue of $133.54 million during the quarter, compared to analyst estimates of $122.55 million. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company’s revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) earnings per share. As a group, research analysts predict that Glaukos will post -1.08 earnings per share for the current year.

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.