BTIG Research Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Glaukos (NYSE:GKOS) had its price objective raised by stock analysts at BTIG Research from $140.00 to $149.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price indicates a potential upside of 6.41% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Truist Financial increased their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $135.45.

Glaukos Stock Performance

Shares of GKOS stock traded down $2.91 during mid-day trading on Tuesday, hitting $140.03. 178,706 shares of the stock were exchanged, compared to its average volume of 570,970. The stock’s fifty day simple moving average is $132.77 and its two-hundred day simple moving average is $124.05. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -46.46 and a beta of 1.02. 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 has a 12-month low of $59.22 and a 12-month high of $146.86.

Glaukos (NYSE:GKOS) last released its 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 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the previous year, the company posted ($0.50) earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts forecast that Glaukos will post -1.96 EPS for the current year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors have recently added to or reduced their stakes in GKOS. Values First Advisors Inc. purchased a new stake in shares of Glaukos during the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd grew its position in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 860 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the period. KBC Group NV boosted its stake in shares of 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 period. Finally, EWA LLC acquired a new stake in Glaukos during the 3rd quarter valued at $209,000. 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.