Glaukos Corporation (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Brokerages

Glaukos Corporation (NYSE:GKOS) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $119.0769.

A number of equities research analysts have commented on the company. Needham & Company LLC raised their price target on Glaukos from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Zacks Research cut Glaukos from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Truist Financial set a $120.00 target price on Glaukos in a research note on Thursday, October 30th. Mizuho set a $130.00 price target on Glaukos in a research note on Thursday, July 31st. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Glaukos in a report on Monday, October 27th.

Insider Buying and Selling at Glaukos

In related news, COO Joseph E. Gilliam sold 19,340 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the completion of the transaction, the chief operating officer directly owned 92,366 shares of the company’s stock, valued at approximately $8,312,940. This trade represents a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GKOS. Xponance Inc. increased its holdings in shares of Glaukos by 5.8% in the first quarter. Xponance Inc. now owns 3,843 shares of the medical instruments supplier’s stock worth $378,000 after purchasing an additional 210 shares during the last quarter. Victory Capital Management Inc. increased its stake in Glaukos by 88.7% in the 1st quarter. Victory Capital Management Inc. now owns 140,411 shares of the medical instruments supplier’s stock worth $13,819,000 after acquiring an additional 66,009 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in Glaukos in the 1st quarter worth approximately $408,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Glaukos by 1.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 28,879 shares of the medical instruments supplier’s stock worth $2,842,000 after acquiring an additional 409 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Glaukos during the 1st quarter valued at approximately $478,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

GKOS opened at $99.36 on Friday. The company has a 50 day simple moving average of $84.72 and a two-hundred day simple moving average of $91.41. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The firm has a market cap of $5.71 billion, a P/E ratio of -64.52 and a beta of 0.81. Glaukos has a 1-year low of $73.16 and a 1-year high of $163.71.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm had revenue of $133.54 million for the quarter, compared to the consensus estimate of $122.55 million. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.53%. The company’s revenue was up 38.1% on a year-over-year basis. During the same period last year, the firm earned ($0.28) EPS. Glaukos has set its FY 2025 guidance at EPS. Equities analysts forecast that Glaukos will post -1.08 earnings per share for the current fiscal year.

About Glaukos

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.