Glaukos (NYSE:GKOS) Given New $137.00 Price Target at Needham & Company LLC

Glaukos (NYSE:GKOS) had its price objective raised by Needham & Company LLC from $131.00 to $137.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other reports. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a report on Saturday, July 13th. Morgan Stanley increased their target price on shares of Glaukos from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Monday, July 15th. Truist Financial increased their price objective on shares of Glaukos from $125.00 to $141.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Jefferies Financial Group raised shares of Glaukos from a hold rating to a buy rating and increased their price objective for the stock from $84.00 to $125.00 in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $108.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Glaukos has a consensus rating of Moderate Buy and an average price target of $127.73.

Glaukos Trading Down 3.6 %

GKOS traded down $4.22 during mid-day trading on Thursday, hitting $113.39. The stock had a trading volume of 181,863 shares, compared to its average volume of 596,548. The stock’s fifty day simple moving average is $116.67 and its 200-day simple moving average is $102.73. 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 $5.71 billion, a price-to-earnings ratio of -40.88 and a beta of 1.05. Glaukos has a 1-year low of $59.22 and a 1-year high of $126.96.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 24.96%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the business posted ($0.55) earnings per share. As a group, research analysts forecast that Glaukos will post -2.25 EPS for the current fiscal year.

Insider Activity at Glaukos

In other news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the transaction, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total transaction of $705,000.00. Following the completion of the sale, the director now owns 32,360 shares in the company, valued at approximately $3,650,208. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,943 shares of company stock valued at $2,147,190. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds have recently modified their holdings of GKOS. Trust Point Inc. acquired a new stake in Glaukos in the 4th quarter worth about $555,000. International Assets Investment Management LLC acquired a new stake in Glaukos in the 4th quarter worth about $259,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Glaukos by 2.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock worth $1,951,000 after purchasing an additional 610 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Glaukos by 3,894.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 72,978 shares of the medical instruments supplier’s stock worth $5,801,000 after purchasing an additional 71,151 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Glaukos in the 4th quarter worth about $1,940,000. 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.