Glaukos (NYSE:GKOS) Raised to “Strong-Buy” at Stephens

Glaukos (NYSE:GKOS) was upgraded by Stephens to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on GKOS. Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. Truist Financial upped their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. BTIG Research upped their price objective on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus upped their price objective on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Monday. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.18.

Glaukos Price Performance

Shares of NYSE GKOS opened at $138.27 on Monday. Glaukos has a twelve month low of $59.58 and a twelve month high of $146.86. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -45.78 and a beta of 1.03. The business has a 50 day simple moving average of $134.76 and a 200-day simple moving average of $125.44.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the business earned ($0.50) EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts expect that Glaukos will post -1.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were 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 of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new position in Glaukos during the first quarter valued at $213,000. LVW Advisors LLC acquired a new position in Glaukos during the second quarter valued at $213,000. Sequoia Financial Advisors LLC acquired a new position in Glaukos during the second quarter valued at $229,000. Assenagon Asset Management S.A. acquired a new position in Glaukos during the second quarter valued at $6,832,000. Finally, Raymond James & Associates raised its position in Glaukos by 23.2% during the second quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier’s stock valued at $1,541,000 after buying an additional 2,452 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.