Glaukos Co. (NYSE:GKOS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Glaukos Co. (NYSE:GKOS) has received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $134.67.

A number of research analysts recently issued reports on GKOS shares. Wells Fargo & Company cut Glaukos from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $160.00 to $86.00 in a report on Thursday, May 1st. Mizuho cut their price target on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Piper Sandler cut their price target on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus cut their price target on Glaukos from $140.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley cut their price target on Glaukos from $110.00 to $72.00 and set an “underweight” rating for the company in a report on Tuesday, May 6th.

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC grew its position in shares of Glaukos by 212.7% in the 1st quarter. Intech Investment Management LLC now owns 92,564 shares of the medical instruments supplier’s stock valued at $9,110,000 after purchasing an additional 62,963 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Glaukos in the 1st quarter valued at approximately $141,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Glaukos by 41.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock valued at $22,636,000 after purchasing an additional 67,668 shares during the period. United Services Automobile Association acquired a new position in shares of Glaukos in the 1st quarter valued at approximately $342,000. Finally, Jones Financial Companies Lllp grew its position in shares of Glaukos by 1,405.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after purchasing an additional 2,390 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Down 1.0%

Shares of NYSE:GKOS opened at $96.22 on Friday. Glaukos has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company’s fifty day moving average is $93.43 and its 200-day moving average is $124.75. The company has a market capitalization of $5.50 billion, a PE ratio of -33.53 and a beta of 0.83.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $106.66 million for the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the previous year, the company earned ($0.70) EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities research analysts predict that Glaukos will post -1.08 earnings per share 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.