Glaukos (NYSE:GKOS) Price Target Raised to $205.00

Glaukos (NYSE:GKOS) had its price objective increased by BTIG Research from $202.00 to $205.00 in a report released on Monday, MarketBeat reports. They currently have a buy rating on the medical instruments supplier’s stock.

Other research analysts have also issued research reports about the stock. UBS Group began coverage on shares of Glaukos in a research note on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. HC Wainwright upped their target price on shares of Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Truist Financial upped their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group increased their target price on shares of Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $181.43.

Glaukos Trading Up 1.3%

NYSE GKOS opened at $167.69 on Monday. Glaukos has a 12 month low of $73.16 and a 12 month high of $191.62. The stock has a 50-day simple moving average of $172.76 and a 200 day simple moving average of $147.41. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%. The company’s revenue was up 49.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) earnings per share. On average, analysts expect that Glaukos will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 20,000 shares of the 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 sale, the chief financial officer directly owned 43,906 shares in the company, valued at $7,908,787.78. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph Gilliam sold 60,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $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 sold a total of 83,025 shares of company stock valued at $14,950,006 in the last three months. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently modified their holdings of GKOS. BlackRock Inc. acquired a new stake in shares of Glaukos in the second quarter valued at approximately $1,333,318,000. Janus Henderson Group PLC lifted its position in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Glaukos in the second quarter worth $679,614,000. Primecap Management Co. CA bought a new stake in shares of Glaukos in the second quarter worth $424,969,000. Finally, William Blair Investment Management LLC acquired a new position in Glaukos during the second quarter worth $92,476,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company’s primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients’ dependence on glaucoma medications.

Glaukos’ glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye’s natural fluid outflow.