Wells Fargo & Company Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Glaukos (NYSE:GKOS) had its price target hoisted by Wells Fargo & Company from $145.00 to $153.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other research firms have also recently issued reports on GKOS. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research note on Monday, December 2nd. Truist Financial upped their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus raised their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler set a $140.00 price target on shares of Glaukos in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.17.

Glaukos Trading Down 1.1 %

Glaukos stock opened at $138.82 on Wednesday. The stock has a 50-day moving average price of $136.25 and a 200 day moving average price of $126.81. Glaukos has a 52 week low of $65.00 and a 52 week high of $147.65. The stock has a market cap of $7.65 billion, a PE ratio of -45.97 and a beta of 1.03. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.50) earnings per share. Equities research analysts predict that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert H. Kliman sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of Glaukos during the third quarter valued at about $25,000. Harvest Fund Management Co. Ltd boosted its holdings in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. KBC Group NV grew its stake in Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares in the last quarter. EWA LLC purchased a new stake in Glaukos during the 3rd quarter worth approximately $209,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Glaukos in the 2nd quarter valued at approximately $187,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.