Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Glaukos (NYSE:GKOS) had its price objective boosted by investment analysts at Wells Fargo & Company from $145.00 to $153.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 8.93% from the company’s previous close.

A number of other research analysts also recently commented on GKOS. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $162.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group began coverage on shares of Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Truist Financial upped their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.17.

Glaukos Price Performance

Shares of Glaukos stock opened at $140.46 on Wednesday. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -46.51 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. The stock’s 50-day simple moving average is $136.10 and its 200-day simple moving average is $126.60. Glaukos has a 52 week low of $59.58 and a 52 week high of $147.65.

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. The company had revenue of $96.70 million for 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%. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.50) EPS. As a group, analysts expect that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. bought a new stake in Glaukos during the 3rd quarter valued at $25,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 860 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Glaukos during the second quarter valued at about $187,000. KBC Group NV grew its stake in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares during the last quarter. Finally, Brighton Jones LLC bought a new position in Glaukos in the second quarter worth about $208,000. 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.