Glaukos Corporation (NYSE:GKOS) Receives $178.08 Average PT from Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $178.0833.

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Needham & Company LLC raised their price objective on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Truist Financial lifted their price objective on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the transaction, the chief operating officer owned 72,588 shares in the company, valued at approximately $13,046,967.12. The trade was a 45.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alex Thurman sold 20,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the transaction, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,908,787.78. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,025 shares of company stock valued at $19,600,006 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Glaukos in the 2nd quarter worth approximately $28,000. Los Angeles Capital Management LLC acquired a new position in Glaukos during the fourth quarter worth $28,000. Larson Financial Group LLC boosted its position in Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. Parallel Advisors LLC boosted its position in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 226 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Glaukos by 523.4% in the second quarter. IFP Advisors Inc now owns 293 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Up 0.1%

GKOS stock opened at $167.35 on Friday. The company’s 50 day moving average price is $170.04 and its 200 day moving average price is $138.62. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of -51.49 and a beta of 0.76. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company had revenue of $185.61 million during the quarter, compared to analysts’ expectations of $150.93 million. During the same quarter in the previous year, the business posted ($0.24) EPS. The firm’s revenue was up 49.6% on a year-over-year basis. On average, equities research analysts anticipate that Glaukos will post -0.32 EPS for the current fiscal year.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products designed to treat glaucoma, corneal disorders and other eye conditions. The company’s technologies are intended to provide alternatives to traditional treatments and support earlier intervention in the management of progressive eye disease.

Glaukos is best known for its portfolio of micro-invasive glaucoma surgery products, including the iStent family of implantable devices.