Glaukos Co. (NYSE:GKOS) Receives $112.27 Consensus Price Target from Brokerages

Glaukos Co. (NYSE:GKOS) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $112.27.

A number of analysts have weighed in on GKOS shares. Needham & Company LLC raised 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, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Citigroup raised their price target on shares of Glaukos from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus raised their price target on shares of Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th.

Glaukos Stock Performance

Shares of Glaukos stock opened at $121.65 on Wednesday. Glaukos has a fifty-two week low of $59.22 and a fifty-two week high of $121.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. The firm has a market capitalization of $6.13 billion, a P/E ratio of -42.24 and a beta of 1.06. The company’s 50 day moving average price is $111.14 and its two-hundred day moving average price is $97.52.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the prior year, the business earned ($0.59) EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Glaukos will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the completion of the transaction, the chief operating officer now owns 101,845 shares of the company’s stock, valued at $10,232,367.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Glaukos news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the sale, the director now directly owns 32,360 shares of the company’s stock, valued at $3,650,208. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $10,232,367.15. The disclosure for this sale can be found here. Insiders sold 80,367 shares of company stock valued at $8,284,190 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently bought and sold shares of GKOS. Envestnet Asset Management Inc. increased its stake in Glaukos by 28.7% in the third quarter. Envestnet Asset Management Inc. now owns 101,602 shares of the medical instruments supplier’s stock valued at $7,646,000 after purchasing an additional 22,652 shares in the last quarter. Mariner LLC grew its holdings in shares of Glaukos by 7.1% during the third quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock valued at $468,000 after buying an additional 411 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Glaukos by 0.5% during the third quarter. Northern Trust Corp now owns 552,317 shares of the medical instruments supplier’s stock valued at $41,562,000 after buying an additional 2,490 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Glaukos by 4.0% during the third quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after buying an additional 1,298 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Glaukos by 34.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 27,306 shares of the medical instruments supplier’s stock valued at $2,171,000 after buying an additional 6,922 shares during the last quarter. 99.04% of the stock is 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.