Glaukos Co. (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Analysts

Glaukos Co. (NYSE:GKOS) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $163.25.

GKOS has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 price target on the stock. Stifel Nicolaus raised their price target on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Stephens raised Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a report on Monday, December 2nd. Finally, Needham & Company LLC raised their price target on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a report on Friday, February 21st.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 10,000 shares of Glaukos stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,744 shares of company stock valued at $2,504,131. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GKOS. Wellington Management Group LLP boosted its position in shares of Glaukos by 294.5% during the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after buying an additional 1,630,270 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $121,390,000. Alliancebernstein L.P. boosted its position in shares of Glaukos by 1,235.4% during the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after buying an additional 755,035 shares during the period. Norges Bank purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $84,490,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Glaukos by 47.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

NYSE GKOS opened at $102.43 on Monday. The company has a market capitalization of $5.79 billion, a PE ratio of -35.69 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business’s fifty day moving average is $140.86 and its 200 day moving average is $137.69. Glaukos has a fifty-two week low of $85.04 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. Sell-side analysts predict that Glaukos will post -1.08 earnings per share for the current year.

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.