Glaukos (NYSE:GKOS) Price Target Raised to $149.00

Glaukos (NYSE:GKOS) had its price target boosted by BTIG Research from $140.00 to $149.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company raised their price target on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC lifted their price objective on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Truist Financial boosted their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.45.

Glaukos Trading Up 1.4 %

NYSE:GKOS opened at $142.69 on Tuesday. The company has a market capitalization of $7.87 billion, a PE ratio of -47.25 and a beta of 1.02. Glaukos has a 52-week low of $59.58 and a 52-week high of $146.86. The stock has a fifty day simple moving average of $133.56 and a 200-day simple moving average of $124.39. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the firm earned ($0.50) earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts expect that Glaukos will post -1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in shares of Glaukos during the 2nd quarter valued at $6,832,000. WCM Investment Management LLC lifted its stake in shares of Glaukos by 45.7% during the third quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares in the last quarter. First Turn Management LLC purchased a new stake in shares of Glaukos in the third quarter worth about $12,520,000. Victory Capital Management Inc. grew its stake in shares of Glaukos by 421.8% in the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after buying an additional 64,031 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Glaukos during the 2nd quarter valued at about $1,940,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Company Profile

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.