Glaukos (NYSE:GKOS) Stock Price Up 5.4% After Analyst Upgrade

Glaukos Co. (NYSE:GKOS) was up 5.4% during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $145.00 to $153.00. Wells Fargo & Company currently has an overweight rating on the stock. Glaukos traded as high as $145.00 and last traded at $143.68. Approximately 31,689 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 566,941 shares. The stock had previously closed at $136.38.

Several other research analysts have also issued reports on GKOS. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research report on Monday, December 2nd. BTIG Research raised their price objective on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus upped their target price on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.17.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in Glaukos by 80.1% in the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock valued at $2,031,000 after acquiring an additional 6,948 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Glaukos by 83.1% in the third quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after purchasing an additional 6,767 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Glaukos in the third quarter valued at approximately $258,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Glaukos by 84.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock valued at $3,709,000 after buying an additional 13,019 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Glaukos by 6.0% during the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

The firm has a market cap of $7.88 billion, a P/E ratio of -47.31 and a beta of 1.03. The company has a fifty day moving average of $135.82 and a 200-day moving average of $126.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The business’s revenue was up 23.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Glaukos Co. will post -1.89 EPS 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.