Glaukos (NYSE:GKOS) Upgraded by HC Wainwright to Strong-Buy Rating

HC Wainwright upgraded shares of Glaukos (NYSE:GKOS) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also issued reports on GKOS. BTIG Research reaffirmed a “buy” rating and set a $162.00 target price on shares of Glaukos in a research report on Wednesday, June 10th. Citigroup increased their price target on Glaukos from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. Finally, Needham & Company LLC boosted their price target on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.62.

Glaukos Price Performance

Shares of NYSE GKOS traded down $0.32 during trading hours on Monday, hitting $148.38. 87,631 shares of the stock were exchanged, compared to its average volume of 883,709. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The company has a market cap of $8.71 billion, a PE ratio of -45.24 and a beta of 0.75. The company’s fifty day simple moving average is $129.86 and its two-hundred day simple moving average is $119.65. Glaukos has a 1-year low of $73.16 and a 1-year high of $150.26.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company’s revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) earnings per share. On average, sell-side analysts predict that Glaukos will post -0.57 EPS for the current year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,273 shares of company stock valued at $5,832,003 in the last three months. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GKOS. Janus Henderson Group PLC increased its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the period. Wellington Management Group LLP boosted its holdings in Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after purchasing an additional 336,266 shares during the period. Primecap Management Co. CA boosted its holdings in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the period. State Street Corp grew its position in shares of Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Glaukos by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after purchasing an additional 68,497 shares in the last quarter. 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.