Glaukos Co. (NYSE:GKOS) Receives $99.80 Average Price Target from Analysts

Shares of Glaukos Co. (NYSE:GKOS) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $99.80.

GKOS has been the topic of a number of recent analyst reports. 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. Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research report on Wednesday, April 3rd. Citigroup increased their target price on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Mizuho increased their target price on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the transaction, the chief financial officer now directly owns 54,916 shares of the company’s stock, 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 other news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the sale, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 9,476 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $94.12, for a total transaction of $891,881.12. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at approximately $11,275,764.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,357 shares of company stock valued at $22,857,372. Insiders own 7.80% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds have recently made changes to their positions in GKOS. Point72 Asset Management L.P. lifted its stake in shares of Glaukos by 154.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,152,600 shares of the medical instruments supplier’s stock worth $50,346,000 after acquiring an additional 700,200 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Glaukos by 304.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 691,899 shares of the medical instruments supplier’s stock worth $34,664,000 after acquiring an additional 520,758 shares during the period. Invesco Ltd. lifted its stake in shares of Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after acquiring an additional 453,756 shares during the period. Norges Bank acquired a new stake in shares of Glaukos in the 4th quarter worth $17,593,000. Finally, Morgan Stanley lifted its stake in shares of Glaukos by 58.0% in the 4th quarter. Morgan Stanley now owns 809,206 shares of the medical instruments supplier’s stock worth $35,346,000 after acquiring an additional 297,021 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Trading Up 1.4 %

Shares of NYSE:GKOS opened at $96.50 on Friday. Glaukos has a 52 week low of $45.38 and a 52 week high of $102.33. The company’s 50 day moving average is $91.88 and its two-hundred day moving average is $80.87. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. The company has a market cap of $4.84 billion, a PE ratio of -34.71 and a beta of 1.08.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same period in the prior year, the company posted ($0.53) earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts predict that Glaukos will post -2.18 earnings per share for the current fiscal year.

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.