Glaukos (NYSE:GKOS) Upgraded at Jefferies Financial Group

Glaukos (NYSE:GKOS) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a $125.00 target price on the medical instruments supplier’s stock, up from their previous target price of $84.00. Jefferies Financial Group’s price objective indicates a potential upside of 17.36% from the stock’s previous close.

GKOS has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Glaukos from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday. BTIG Research upped their price target on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target on shares of Glaukos in a research report on Wednesday, April 3rd. Citigroup upped their price target on shares of Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Needham & Company LLC upped their price objective on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.64.

Glaukos Price Performance

Glaukos stock opened at $106.51 on Monday. Glaukos has a 1 year low of $49.19 and a 1 year high of $108.22. The firm has a 50 day moving average price of $93.33 and a 200 day moving average price of $83.07. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results 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). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. During the same period last year, the company posted ($0.59) earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts predict that Glaukos will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.14, for a total value of $12,922,174.30. Following the completion of the sale, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the sale, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $42,835.38. Following the completion of 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. Insiders have sold a total of 232,881 shares of company stock worth $21,965,491 over the last quarter. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in Glaukos during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC bought a new stake in Glaukos in the fourth quarter worth approximately $55,000. Quadrant Capital Group LLC grew its position in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Glaukos by 17.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after buying an additional 270 shares during the period. Finally, Caldwell Sutter Capital Inc. boosted its holdings 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 worth $140,000 after buying an additional 1,465 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.