Glaukos (NYSE:GKOS) Price Target Raised to $145.00

Glaukos (NYSE:GKOS) had its price objective upped by Wells Fargo & Company from $135.00 to $145.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on GKOS. Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. BTIG Research lifted their price target on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley lifted their price target on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. Finally, Truist Financial boosted their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Glaukos Trading Down 0.4 %

Shares of NYSE:GKOS traded down $0.60 during trading on Tuesday, hitting $138.73. The company had a trading volume of 63,590 shares, compared to its average volume of 577,975. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -46.14 and a beta of 1.02. Glaukos has a one year low of $59.22 and a one year high of $143.24. The company has a fifty day simple moving average of $129.72 and a two-hundred day simple moving average of $120.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 20.28% and a negative net margin of 42.43%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same period last year, the business posted ($0.50) EPS. The business’s revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts forecast that Glaukos will post -2.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the transaction, the director now directly owns 34,076 shares in the company, valued at $4,291,190.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $13,216,581.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,525 shares of company stock worth $2,142,029. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Glaukos in the third quarter valued at approximately $1,347,000. Pathstone Holdings LLC boosted its position in shares of Glaukos by 6.3% during the third quarter. Pathstone Holdings LLC now owns 22,449 shares of the medical instruments supplier’s stock worth $2,925,000 after buying an additional 1,326 shares during the period. First Turn Management LLC acquired a new position in Glaukos during the 3rd quarter worth approximately $12,520,000. LMR Partners LLP raised its stake in Glaukos by 12.3% in the third quarter. LMR Partners LLP now owns 36,986 shares of the medical instruments supplier’s stock valued at $4,819,000 after buying an additional 4,059 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Glaukos by 3.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,152 shares of the medical instruments supplier’s stock worth $5,622,000 after buying an additional 1,339 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.