BTIG Research Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price objective increased by stock analysts at BTIG Research from $123.00 to $131.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price target suggests a potential upside of 4.48% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on GKOS. Stephens increased their price objective on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. Truist Financial increased their price target on shares of Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Wells Fargo & Company raised their price target on shares of Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Citigroup raised their target price on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.54.

Glaukos Stock Performance

Shares of NYSE:GKOS traded up $6.68 during trading on Wednesday, hitting $125.38. 484,516 shares of the stock were exchanged, compared to its average volume of 880,295. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -81.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. Glaukos has a 1-year low of $73.16 and a 1-year high of $161.78. The company’s fifty day simple moving average is $111.79 and its 200-day simple moving average is $96.40.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.11. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The firm had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. During the same period last year, the business earned ($0.28) earnings per share. Glaukos’s quarterly revenue was up 38.1% compared to the same quarter last year. Sell-side analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the sale, the director directly owned 34,905 shares of the company’s stock, valued at $3,744,259.35. This trade represents a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 10,498 shares of Glaukos stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total value of $1,340,384.64. Following the completion of the transaction, the chief operating officer owned 92,366 shares of the company’s stock, valued at approximately $11,793,290.88. The trade was a 10.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 329,655 shares of company stock worth $37,752,234 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after acquiring an additional 336,266 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Glaukos by 23.3% in the third quarter. Primecap Management Co. CA now owns 2,253,788 shares of the medical instruments supplier’s stock valued at $183,796,000 after purchasing an additional 425,790 shares in the last quarter. State Street Corp raised its position in Glaukos by 5.3% in the 2nd quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock worth $215,914,000 after purchasing an additional 105,972 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Glaukos by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after buying an additional 68,497 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Glaukos by 38.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock valued at $141,365,000 after buying an additional 481,620 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.