Stifel Nicolaus Increases Glaukos (NYSE:GKOS) Price Target to $175.00

Glaukos (NYSE:GKOS) had its price target boosted by Stifel Nicolaus from $153.00 to $175.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. BTIG Research increased their price target on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Monday, December 2nd. Finally, Truist Financial raised their target price on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.75.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $149.94 on Tuesday. The firm’s 50 day simple moving average is $140.89 and its 200 day simple moving average is $130.05. Glaukos has a fifty-two week low of $74.75 and a fifty-two week high of $153.50. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of -49.65 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. The firm 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 business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.50) earnings per share. As a group, sell-side analysts forecast that Glaukos will post -1.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock valued at $2,605,678 in the last quarter. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GKOS. WCM Investment Management LLC boosted its holdings in shares of Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after buying an additional 31,084 shares during the last quarter. BNP Paribas Financial Markets raised its position in Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares in the last quarter. First Turn Management LLC acquired a new stake in Glaukos in the third quarter valued at $12,520,000. Victory Capital Management Inc. grew its position in shares of Glaukos by 421.8% in the 3rd quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after acquiring an additional 64,031 shares during the period. Finally, State Street Corp increased its stake in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after purchasing an additional 98,109 shares during the last quarter. 99.04% of the stock is currently owned by 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.