Glaukos (NYSE:GKOS) PT Raised to $113.00 at Needham & Company LLC

Glaukos (NYSE:GKOS) had its price target raised by research analysts at Needham & Company LLC from $108.00 to $113.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 14.33% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Mizuho lifted their target price on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their price objective on Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Citigroup raised their price target on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. Finally, StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.30.

Glaukos Price Performance

NYSE:GKOS opened at $98.84 on Thursday. The firm’s fifty day moving average price is $92.71 and its two-hundred day moving average price is $82.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78. The company has a market cap of $4.96 billion, a P/E ratio of -35.55 and a beta of 1.08. Glaukos has a one year low of $45.38 and a one year high of $103.66.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). The firm had revenue of $82.40 million for the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) EPS. Equities analysts expect that Glaukos will post -2.16 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In related news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the sale, the chief operating officer now directly owns 119,802 shares in the company, valued at $11,509,378.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Glaukos news, COO Joseph E. Gilliam sold 1,512 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.80, for a total transaction of $146,361.60. Following the transaction, the chief operating officer now directly owns 119,802 shares in the company, valued at approximately $11,596,833.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of Glaukos stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total transaction of $480,350.00. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Glaukos in the fourth quarter valued at $608,000. Natixis Advisors L.P. lifted its position in Glaukos by 4.0% in the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after acquiring an additional 1,298 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Glaukos by 26.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock valued at $3,329,000 after purchasing an additional 8,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Glaukos by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock worth $29,106,000 after purchasing an additional 20,415 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Glaukos in the third quarter worth approximately $6,367,000. 99.04% of the stock is owned by institutional investors and hedge funds.

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.