Brokerages Set Glaukos Corporation (NYSE:GKOS) Price Target at $154.85

Shares of Glaukos Corporation (NYSE:GKOS) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $154.8462.

GKOS has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Citigroup lifted their price target on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Piper Sandler restated an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, July 1st. Finally, HC Wainwright began coverage on Glaukos in a research report on Monday, July 6th. They issued a “buy” rating and a $168.00 target price on the stock.

Glaukos Trading Down 1.0%

NYSE GKOS opened at $152.07 on Thursday. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.53. 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 stock’s 50 day moving average price is $136.04 and its two-hundred day moving average price is $123.80. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of -46.36 and a beta of 0.75.

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

Insider Buying and Selling

In other Glaukos 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 transaction of $703,800.00. Following the transaction, the director owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,273 shares of company stock worth $8,882,003 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Glaukos by 460.8% during the 4th quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock worth $6,801,000 after buying an additional 49,492 shares during the last quarter. Stephens Inc. AR acquired a new position in Glaukos in the 1st quarter valued at about $363,000. Allspring Global Investments Holdings LLC grew its stake in Glaukos by 32.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier’s stock valued at $39,336,000 after buying an additional 87,781 shares during the last quarter. DNB Asset Management AS raised its holdings in Glaukos by 11.9% in the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock valued at $9,295,000 after acquiring an additional 8,770 shares during the period. Finally, Capricorn Fund Managers Ltd bought a new stake in shares of Glaukos during the 4th quarter valued at approximately $6,775,000. 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.