Glaukos (NYSE:GKOS) PT Raised to $110.00

Glaukos (NYSE:GKOS) had its price objective boosted by equities researchers at Wells Fargo & Company from $103.00 to $110.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.34% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price on shares of Glaukos in a research report on Wednesday, April 3rd. Needham & Company LLC increased their target price on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho upped their price target on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Truist Financial restated a “buy” rating and set a $110.00 price target on shares of Glaukos in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

Glaukos Trading Up 7.6 %

GKOS stock traded up $7.53 during mid-day trading on Thursday, reaching $106.44. The company had a trading volume of 180,679 shares, compared to its average volume of 646,871. The firm has a 50 day moving average of $92.71 and a 200 day moving average of $82.43. Glaukos has a 12 month low of $45.47 and a 12 month high of $107.48. The company has a market capitalization of $5.34 billion, a PE ratio of -38.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same period in the previous year, the company posted ($0.53) EPS. Glaukos’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts predict that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now directly owns 33,220 shares of the company’s stock, valued at $3,085,141.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at $2,702,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark J. Foley sold 4,560 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $92.87, for a total transaction of $423,487.20. Following the completion of the transaction, the director now directly owns 33,220 shares in the company, valued at $3,085,141.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brown Capital Management LLC lifted its stake in shares of Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after buying an additional 89,420 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of Glaukos by 9.2% in the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after buying an additional 150,102 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Glaukos by 45.5% in the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after buying an additional 453,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after buying an additional 31,213 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of Glaukos by 23.7% in the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after buying an additional 151,415 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.