Glaukos Corporation (NYSE:GKOS) Stock Has Average Price Target of $216.71

Glaukos Corporation (NYSE:GKOS) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $216.71.

Several equities analysts have issued reports on the company. Mizuho set a $225.00 target price on Glaukos in a research note on Thursday. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Wells Fargo & Company raised their price target on shares of Glaukos from $178.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Zacks Research raised shares of Glaukos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price objective (up from $195.00) on shares of Glaukos in a research report on Thursday.

Glaukos Stock Performance

Glaukos stock opened at $238.63 on Friday. The business has a fifty day moving average of $174.36 and a two-hundred day moving average of $141.78. 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 has a twelve month low of $80.90 and a twelve month high of $248.75.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.57. The business had revenue of $211.03 million for the quarter, compared to the consensus estimate of $168.04 million. Glaukos had a negative return on equity of 0.98% and a negative net margin of 24.60%. The business’s revenue was up 58.0% compared to the same quarter last year. During the same period last year, the business posted ($0.16) EPS. On average, research analysts predict that Glaukos will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the sale, the chief operating officer owned 72,588 shares in the company, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 43,906 shares in the company, 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 82,500 shares of company stock worth $14,862,000 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Glaukos in the second quarter valued at approximately $1,333,318,000. Janus Henderson Group PLC boosted its stake in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Glaukos during the second quarter worth approximately $679,614,000. Primecap Management Co. CA purchased a new stake in shares of Glaukos during the second quarter worth approximately $424,969,000. Finally, William Blair Investment Management LLC acquired a new position in Glaukos in the 2nd quarter valued at $92,476,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.