Brokerages Set Glaukos Corporation (NYSE:GKOS) Price Target at $177.33

Glaukos Corporation (NYSE:GKOS) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $177.3333.

GKOS has been the subject of several recent research reports. UBS Group assumed coverage on shares of Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 target price for the company. Wells Fargo & Company increased their price target on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. William Blair restated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Needham & Company LLC lifted their price objective on shares of Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, HC Wainwright upped their price objective on shares of Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th.

Glaukos Stock Up 3.0%

Glaukos stock opened at $189.72 on Monday. The business’s 50-day moving average price is $154.98 and its 200 day moving average price is $130.78. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of -58.38 and a beta of 0.78. Glaukos has a 52 week low of $73.16 and a 52 week high of $190.06.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The company had revenue of $185.61 million during the quarter, compared to the consensus estimate of $150.93 million. During the same period in the previous year, the company posted ($0.24) earnings per share. Glaukos’s revenue for the quarter was up 49.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Glaukos will post -0.35 earnings per share for the current year.

Insider Activity

In related news, CFO Alex R. Thurman sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares of the company’s stock, valued at approximately $7,908,787.78. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer owned 72,588 shares in the company, valued at $13,046,967.12. This represents a 45.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,525 shares of company stock worth $19,125,006 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. BlackRock Inc. purchased a new position in shares of Glaukos during the 2nd quarter valued at approximately $1,333,318,000. Janus Henderson Group PLC grew its stake in Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after acquiring an additional 2,329,608 shares during the period. Jupiter Topco LLC purchased a new stake in Glaukos in the 2nd quarter worth $679,614,000. Wellington Management Group LLP increased 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 worth $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in Glaukos by 49.8% during the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the period. 99.04% of the stock is currently owned by hedge funds and other 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.