Mizuho Increases Glaukos (NYSE:GKOS) Price Target to $100.00

Glaukos (NYSE:GKOS) had its price target boosted by research analysts at Mizuho from $85.00 to $100.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Mizuho’s price target points to a potential upside of 1.80% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC lifted their target price on Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Citigroup lifted their price target on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Truist Financial reissued a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. upgraded shares of Glaukos from a “neutral” rating to an “overweight” rating and upped their price target for the company 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 assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.80.

Glaukos Stock Performance

GKOS stock opened at $98.23 on Thursday. Glaukos has a 1 year low of $45.38 and a 1 year high of $102.33. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of -35.33 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The stock’s fifty day moving average is $91.66 and its two-hundred day moving average is $79.99.

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 analysts’ consensus estimates of ($0.56) by ($0.07). The business had revenue of $82.40 million for the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted ($0.53) EPS. On average, research analysts predict that Glaukos will post -2.18 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 434 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $95.33, for a total value of $41,373.22. Following the transaction, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at approximately $5,163,644.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 583 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $90.54, for a total value of $52,784.82. Following the completion of the sale, the chief financial officer now owns 54,618 shares in the company, valued at approximately $4,945,113.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the sale, the chief financial officer now owns 54,166 shares of the company’s stock, valued at approximately $5,163,644.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,354 shares of company stock worth $23,395,459. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Glaukos by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock worth $286,470,000 after purchasing an additional 23,473 shares in the last quarter. Brown Capital Management LLC lifted its stake in Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after buying an additional 89,420 shares during the period. Braidwell LP boosted its position in shares of Glaukos by 8.7% during the 1st quarter. Braidwell LP now owns 1,806,651 shares of the medical instruments supplier’s stock worth $90,513,000 after purchasing an additional 144,800 shares in the last quarter. State Street Corp lifted its holdings in shares of Glaukos by 1.8% in the 2nd quarter. State Street Corp now owns 1,782,347 shares of the medical instruments supplier’s stock worth $126,921,000 after purchasing an additional 31,471 shares in the last quarter. Finally, Fred Alger Management LLC boosted its stake in Glaukos by 9.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after purchasing an additional 150,102 shares during the last quarter. 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.