Brokerages Set Glaukos Corporation (NYSE:GKOS) Price Target at $133.69

Glaukos Corporation (NYSE:GKOS) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $133.6923.

Several equities research analysts have recently weighed in on GKOS shares. William Blair raised Glaukos to a “strong-buy” rating in a report on Friday, January 30th. Needham & Company LLC increased their price target on Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. UBS Group increased their price target on Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Finally, Stephens increased their price target on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd.

Glaukos Stock Down 0.3%

Glaukos stock traded down $0.34 during mid-day trading on Tuesday, hitting $124.21. The company had a trading volume of 18,473 shares, compared to its average volume of 761,851. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -38.12 and a beta of 0.78. Glaukos has a 1 year low of $73.16 and a 1 year high of $130.23. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $112.13 and a 200 day moving average of $105.87.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $143.12 million during the quarter, compared to analysts’ expectations of $132.16 million. Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) earnings per share. On average, sell-side analysts expect that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, Director Aimee S. Weisner sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $117.38, for a total value of $1,760,700.00. Following the completion of the sale, the director owned 18,806 shares of the company’s stock, valued at approximately $2,207,448.28. This trade represents a 44.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 2,511 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $106.46, for a total value of $267,321.06. Following the completion of the sale, the chief financial officer directly owned 41,967 shares of the company’s stock, valued at approximately $4,467,806.82. This trade represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,657 shares of company stock worth $6,067,269 in the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after buying an additional 1,123,140 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Glaukos by 183.4% in the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after buying an additional 1,953,578 shares in the last quarter. State Street Corp increased its position in shares of Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after buying an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after buying an additional 68,497 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.