Glaukos (NYSE:GKOS) Price Target Cut to $165.00 by Analysts at Piper Sandler

Glaukos (NYSE:GKOS) had its price target lowered by stock analysts at Piper Sandler from $180.00 to $165.00 in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s target price indicates a potential upside of 85.77% from the stock’s current price.

GKOS has been the subject of a number of other research reports. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and raised their target price for the company from $140.00 to $200.00 in a research report on Wednesday, February 19th. Truist Financial lowered their target price on Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Needham & Company LLC increased their price target on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company boosted their price target on Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus increased their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.17.

Glaukos Stock Performance

GKOS opened at $88.82 on Tuesday. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -30.95 and a beta of 0.88. The business’s 50-day moving average price is $110.40 and its two-hundred day moving average price is $131.88. Glaukos has a 1 year low of $77.91 and a 1 year high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

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

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Glaukos during the fourth quarter worth $121,390,000. Alliancebernstein L.P. lifted its position in shares of Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after buying an additional 755,035 shares during the last quarter. Norges Bank acquired a new stake in Glaukos in the fourth quarter valued at about $84,490,000. Gilder Gagnon Howe & Co. LLC boosted its stake in Glaukos by 25.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock valued at $123,742,000 after buying an additional 166,677 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Glaukos by 266.2% in the fourth quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier’s stock valued at $30,093,000 after acquiring an additional 145,890 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

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.