Wells Fargo & Company Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Glaukos (NYSE:GKOS) had its price objective raised by research analysts at Wells Fargo & Company from $153.00 to $160.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 14.64% from the stock’s previous close.

GKOS has been the topic of a number of other research reports. BTIG Research upped their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up previously from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Stephens upgraded Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and upped their price target for the company from $140.00 to $200.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Trading Down 11.3 %

Shares of GKOS stock opened at $139.57 on Friday. The firm has a market capitalization of $7.70 billion, a P/E ratio of -46.56 and a beta of 1.04. Glaukos has a twelve month low of $83.90 and a twelve month high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $153.00 and its 200 day simple moving average is $139.16.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. As a group, sell-side analysts predict that Glaukos will post -1.89 EPS for the current fiscal year.

Insider Activity

In related news, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,744 shares of company stock valued at $2,792,151 in the last ninety days. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in Glaukos during the 3rd quarter worth approximately $25,000. IFP Advisors Inc bought a new stake in Glaukos during the 4th quarter worth approximately $43,000. Asset Planning Inc bought a new stake in Glaukos during the 4th quarter worth approximately $90,000. CoreCap Advisors LLC increased its holdings in Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after purchasing an additional 200 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 860 shares in 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.