Glaukos (NYSE:GKOS) Given New $43.00 Price Target at Citigroup

Glaukos (NYSE:GKOSGet Rating) had its target price dropped by equities research analysts at Citigroup from $58.00 to $43.00 in a research report issued on Tuesday, The Fly reports. Citigroup’s price objective indicates a potential upside of 12.07% from the company’s current price.

Several other analysts have also recently issued reports on GKOS. William Blair upgraded Glaukos from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 3rd. Wells Fargo & Company upgraded Glaukos from an “underweight” rating to an “equal weight” rating and set a $56.00 price objective on the stock in a research note on Wednesday, January 19th. BTIG Research upped their price objective on Glaukos from $61.00 to $66.00 in a research note on Monday, April 18th. Finally, StockNews.com initiated coverage on Glaukos in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Glaukos has a consensus rating of “Hold” and an average price target of $58.56.

NYSE:GKOS opened at $38.37 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 8.39 and a current ratio of 8.84. Glaukos has a one year low of $33.33 and a one year high of $87.24. The business’s 50-day simple moving average is $53.17 and its 200 day simple moving average is $50.72. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -62.90 and a beta of 1.52.

Glaukos (NYSE:GKOSGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.13. Glaukos had a negative return on equity of 7.95% and a negative net margin of 9.45%. The business had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $60.85 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that Glaukos will post -1.94 EPS for the current year.

A number of hedge funds have recently modified their holdings of GKOS. Point72 Hong Kong Ltd bought a new position in Glaukos in the 4th quarter worth approximately $32,000. Institutional & Family Asset Management LLC boosted its stake in Glaukos by 100.0% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,000 shares of the medical instruments supplier’s stock valued at $48,000 after purchasing an additional 500 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Glaukos during the 1st quarter valued at $55,000. Captrust Financial Advisors boosted its stake in Glaukos by 119.5% during the 1st quarter. Captrust Financial Advisors now owns 1,484 shares of the medical instruments supplier’s stock valued at $86,000 after purchasing an additional 808 shares in the last quarter. Finally, Hardy Reed LLC bought a new position in Glaukos during the 1st quarter valued at $90,000. 92.52% of the stock is owned by institutional investors and hedge funds.

About Glaukos (Get Rating)

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.

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