Glaukos Corporation (NYSE:GKOS) Receives $149.17 Average PT from Brokerages

Glaukos Corporation (NYSE:GKOS) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $149.1667.

GKOS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. BTIG Research restated a “buy” rating and issued a $162.00 price target on shares of Glaukos in a report on Wednesday, June 10th. Finally, Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th.

Glaukos Trading Down 0.6%

Shares of GKOS opened at $147.49 on Friday. Glaukos has a twelve month low of $73.16 and a twelve month high of $148.62. The company has a market cap of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $129.31 and its 200-day simple moving average is $119.35.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) EPS. As a group, analysts expect that Glaukos will post -0.57 EPS for the current year.

Insider Activity at Glaukos

In other news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alex R. Thurman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,115,340. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,273 shares of company stock valued at $5,832,003 over the last 90 days. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Corp grew its position in shares of Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Glaukos in the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its holdings in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. Parallel Advisors LLC lifted its stake in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 226 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 215 shares during the period. 99.04% of the stock is owned by institutional investors.

Glaukos Company Profile

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.