Glaukos (NYSE:GKOS) Price Target Increased to $112.00 by Analysts at BTIG Research

Glaukos (NYSE:GKOS) had its price objective increased by BTIG Research from $107.00 to $112.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently commented on GKOS. Needham & Company LLC raised their price objective on shares of Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a research note on Thursday. Citigroup increased their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a research note on Monday, March 25th. JPMorgan Chase & Co. lifted their price target on Glaukos from $108.00 to $110.00 and gave the company an overweight rating in a research note on Thursday. Truist Financial reiterated a buy rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research report on Thursday. Finally, Stifel Nicolaus restated a buy rating and issued a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $107.00.

Glaukos Stock Up 1.4 %

NYSE:GKOS opened at $106.51 on Thursday. The firm has a market capitalization of $5.35 billion, a P/E ratio of -36.98 and a beta of 1.08. The company’s fifty day moving average price is $93.33 and its 200-day moving average price is $83.07. Glaukos has a 1-year low of $49.19 and a 1-year high of $108.22. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.78.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.59) EPS. As a group, equities research analysts anticipate that Glaukos will post -2.2 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at $11,509,378.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 474 shares of Glaukos stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI purchased a new stake in shares of Glaukos in the fourth quarter valued at about $46,000. GAMMA Investing LLC purchased a new stake in shares of Glaukos in the 4th quarter valued at approximately $55,000. Quadrant Capital Group LLC increased its holdings in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. raised its position in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 1,465 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after acquiring an additional 270 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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.