Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Glaukos (NYSE:GKOS) had its price objective hoisted by stock analysts at Stifel Nicolaus from $145.00 to $153.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target points to a potential upside of 12.50% from the company’s previous close.

GKOS has been the subject of several other research reports. Wells Fargo & Company raised their price objective on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research report on Monday. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $136.18.

Glaukos Price Performance

Shares of NYSE GKOS opened at $136.00 on Monday. The company has a market capitalization of $7.50 billion, a PE ratio of -45.03 and a beta of 1.03. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a twelve month low of $59.58 and a twelve month high of $146.86. The firm has a fifty day simple moving average of $134.52 and a 200 day simple moving average of $125.35.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same period last year, the company posted ($0.50) EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts forecast that Glaukos will post -1.91 EPS for the current year.

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. This trade 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 large investors have recently made changes to their positions in GKOS. Cetera Advisors LLC bought a new position in Glaukos during the first quarter valued at about $213,000. GAMMA Investing LLC grew its position in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 486 shares during the period. LVW Advisors LLC purchased a new stake in shares of Glaukos during the 2nd quarter worth approximately $213,000. Sequoia Financial Advisors LLC bought a new stake in shares of Glaukos in the 2nd quarter worth approximately $229,000. Finally, Assenagon Asset Management S.A. purchased a new position in Glaukos in the second quarter valued at approximately $6,832,000. 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.