Glaukos (NYSE:GKOS) Price Target Raised to $185.00

Glaukos (NYSE:GKOS) had its price target raised by Truist Financial from $152.00 to $185.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts also recently issued reports on GKOS. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group started coverage on Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.92.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $150.88 on Wednesday. The firm’s 50 day simple moving average is $138.05 and its 200-day simple moving average is $128.01. The firm has a market cap of $8.32 billion, a PE ratio of -49.96 and a beta of 1.03. Glaukos has a one year low of $74.75 and a one year high of $151.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the company earned ($0.50) EPS. The business’s revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts predict that Glaukos will post -1.89 EPS for the current year.

Insider Transactions at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in Glaukos by 23.2% in the 2nd quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier’s stock valued at $1,541,000 after buying an additional 2,452 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos in the second quarter valued at about $187,000. Louisiana State Employees Retirement System lifted its stake in shares of Glaukos by 4.5% in the second quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the medical instruments supplier’s stock worth $2,994,000 after buying an additional 1,100 shares in the last quarter. EFG Asset Management North America Corp. boosted its position in Glaukos by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after acquiring an additional 128 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Glaukos by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 413,680 shares of the medical instruments supplier’s stock valued at $48,959,000 after acquiring an additional 26,510 shares in 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.