Glaukos Co. (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Analysts

Glaukos Co. (NYSE:GKOS) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $99.80.

A number of analysts recently weighed in on GKOS shares. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Piper Sandler raised their target price on shares of Glaukos from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Citigroup raised their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company raised their target price on shares of Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Needham & Company LLC raised their target price on shares of Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd.

Glaukos Stock Down 1.8 %

Shares of NYSE:GKOS opened at $95.15 on Friday. The stock has a market cap of $4.71 billion, a P/E ratio of -34.23 and a beta of 1.08. The firm has a fifty day moving average price of $91.88 and a 200 day moving average price of $80.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78. Glaukos has a 1-year low of $45.38 and a 1-year high of $102.33.

Glaukos (NYSE:GKOS) last issued 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 analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. Sell-side analysts predict that Glaukos will post -2.18 EPS for the current year.

Insider Activity

In other news, COO Joseph E. Gilliam sold 524 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $94.01, for a total value of $49,261.24. Following the completion of the transaction, the chief operating officer now owns 119,802 shares in the company, valued at approximately $11,262,586.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Glaukos news, COO Joseph E. Gilliam sold 524 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $94.01, for a total transaction of $49,261.24. Following the completion of the transaction, the chief operating officer now directly owns 119,802 shares in the company, valued at approximately $11,262,586.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Foley sold 4,560 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now owns 33,220 shares of the company’s stock, valued at $3,085,141.40. The disclosure for this sale can be found here. Insiders sold 242,881 shares of company stock worth $22,906,633 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Glaukos by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock valued at $286,470,000 after acquiring an additional 23,473 shares in the last quarter. Brown Capital Management LLC grew its holdings in shares of Glaukos by 3.4% during the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after buying an additional 89,420 shares in the last quarter. Braidwell LP grew its holdings in shares of Glaukos by 8.7% during the first quarter. Braidwell LP now owns 1,806,651 shares of the medical instruments supplier’s stock worth $90,513,000 after buying an additional 144,800 shares in the last quarter. State Street Corp grew its holdings in shares of Glaukos by 1.8% during the second quarter. State Street Corp now owns 1,782,347 shares of the medical instruments supplier’s stock worth $126,921,000 after buying an additional 31,471 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Glaukos by 9.2% during the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after buying an additional 150,102 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.