Glaukos (NYSE:GKOS) Raised to “Strong-Buy” at Wall Street Zen

Glaukos (NYSE:GKOS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on GKOS. HC Wainwright raised their price objective on shares of Glaukos from $195.00 to $248.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Jefferies Financial Group boosted their price objective on shares of Glaukos from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Truist Financial upped their target price on shares of Glaukos from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price (up from $195.00) on shares of Glaukos in a research note on Thursday, October 29th. Finally, BTIG Research increased their target price on shares of Glaukos from $205.00 to $234.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.71.

Glaukos Stock Performance

Shares of GKOS opened at $223.96 on Friday. Glaukos has a 52-week low of $80.90 and a 52-week high of $255.18. The stock’s 50-day simple moving average is $178.24 and its 200 day simple moving average is $144.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.09 and a current ratio of 4.57. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of -76.18 and a beta of 0.68.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.57. The business had revenue of $211.03 million during the quarter, compared to analyst estimates of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) EPS. Research analysts forecast that Glaukos will post 0.50 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, Director Gilbert Kliman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $253.00, for a total value of $632,500.00. Following the sale, the director owned 37,406 shares of the company’s stock, valued at $9,463,718. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the sale, the chief operating officer owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 65,000 shares of company stock worth $11,891,900. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently bought and sold shares of GKOS. BlackRock Inc. purchased a new position in shares of Glaukos during the 2nd quarter valued at about $1,333,318,000. Jupiter Topco LLC bought a new stake in Glaukos in the 2nd quarter worth approximately $679,614,000. Primecap Management Co. CA bought a new stake in Glaukos in the 2nd quarter worth approximately $424,969,000. Janus Henderson Group PLC lifted its position 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 worth $575,844,000 after buying an additional 2,329,608 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Glaukos in the second quarter worth approximately $92,476,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period.

The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.