Truist Financial Cuts Glaukos (NYSE:GKOS) Price Target to $140.00

Glaukos (NYSE:GKOS) had its price target cut by Truist Financial from $185.00 to $140.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently commented on GKOS. Needham & Company LLC upped their target price on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus upped their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Wells Fargo & Company increased their target price on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Finally, Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Glaukos Price Performance

NYSE GKOS opened at $90.05 on Friday. The company’s 50 day simple moving average is $114.19 and its 200 day simple moving average is $132.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a market capitalization of $5.09 billion, a PE ratio of -31.38 and a beta of 0.88. Glaukos has a 12 month low of $77.91 and a 12 month high of $163.71.

Glaukos (NYSE:GKOS) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. As a group, equities research analysts forecast that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at $5,708,568.04. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently modified their holdings of the company. Whipplewood Advisors LLC grew its stake in Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 277 shares during the last quarter. LVW Advisors LLC increased its stake in shares of Glaukos by 5.9% in the first quarter. LVW Advisors LLC now owns 2,408 shares of the medical instruments supplier’s stock worth $237,000 after purchasing an additional 135 shares during the period. GAMMA Investing LLC lifted its position in shares of Glaukos by 5,912.8% during the 1st quarter. GAMMA Investing LLC now owns 133,064 shares of the medical instruments supplier’s stock worth $13,096,000 after purchasing an additional 130,851 shares during the last quarter. Versant Capital Management Inc boosted its stake in Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock valued at $38,000 after purchasing an additional 327 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Glaukos by 7.2% in the 4th quarter. California State Teachers Retirement System now owns 50,949 shares of the medical instruments supplier’s stock valued at $7,639,000 after buying an additional 3,409 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

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.