Stifel Nicolaus Increases Glaukos (NYSE:GKOS) Price Target to $153.00

Glaukos (NYSE:GKOS) had its price objective increased by equities research analysts at Stifel Nicolaus from $145.00 to $153.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 7.76% from the company’s current price.

A number of other brokerages have also recently weighed in on GKOS. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. BTIG Research raised their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial raised their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.18.

Glaukos Trading Down 1.2 %

Shares of NYSE:GKOS traded down $1.67 during trading on Monday, reaching $141.98. 42,243 shares of the company were exchanged, compared to its average volume of 567,822. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a market capitalization of $7.83 billion, a PE ratio of -47.08 and a beta of 1.02. The business’s fifty day simple moving average is $134.13 and its 200-day simple moving average is $124.96. Glaukos has a 12-month low of $59.58 and a 12-month high of $146.86.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter last year, the firm posted ($0.50) EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts anticipate that Glaukos will post -1.91 EPS for the current year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Glaukos by 80.1% in the third quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock valued at $2,031,000 after purchasing an additional 6,948 shares during the period. Tidal Investments LLC grew its stake in Glaukos by 83.1% in the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock valued at $1,942,000 after acquiring an additional 6,767 shares during the period. Sanctuary Advisors LLC purchased a new stake in Glaukos in the 3rd quarter worth $258,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Glaukos by 84.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock valued at $3,709,000 after purchasing an additional 13,019 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Glaukos by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after purchasing an additional 66,134 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.