Glaukos (NYSE:GKOS) Rating Reiterated by Truist Financial

Glaukos (NYSE:GKOS)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They currently have a $110.00 price target on the medical instruments supplier’s stock. Truist Financial’s price target suggests a potential upside of 8.71% from the stock’s previous close.

A number of other equities analysts have also commented on GKOS. Stifel Nicolaus reiterated a “buy” rating and set a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Citigroup lifted their price objective on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company increased their target price on shares of Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Glaukos from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $66.00 to $91.00 in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.30.

Glaukos Trading Up 0.6 %

NYSE GKOS opened at $101.19 on Monday. Glaukos has a twelve month low of $45.38 and a twelve month high of $102.33. The business’s fifty day moving average is $91.17 and its 200 day moving average is $79.56. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -36.40 and a beta of 1.08.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The firm had revenue of $82.40 million for the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) earnings per share. As a group, sell-side analysts expect that Glaukos will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total value of $441,250.00. Following the completion of the sale, the director now directly owns 30,620 shares in the company, valued at approximately $2,702,215. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at $2,702,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 4,890 shares of Glaukos stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $89.17, for a total transaction of $436,041.30. Following the completion of the sale, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $10,682,744.34. The disclosure for this sale can be found here. Insiders have sold a total of 188,663 shares of company stock valued at $17,397,044 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Nomura Holdings Inc. increased its holdings in Glaukos by 3.2% during the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after purchasing an additional 7,146 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $216,000. Goldman Sachs Group Inc. grew its holdings in Glaukos by 17.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 126,642 shares of the medical instruments supplier’s stock worth $10,067,000 after buying an additional 18,639 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Glaukos by 1,098.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,924 shares of the medical instruments supplier’s stock valued at $24,955,000 after buying an additional 287,736 shares during the last quarter. Finally, Systematic Portfolios LLC bought a new position in Glaukos during the 4th quarter valued at $258,000. Institutional investors and hedge funds 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.