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

Shares of Glaukos Corporation (NYSE:GKOS) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $134.67.

A number of research analysts have recently commented on GKOS shares. Needham & Company LLC cut their price target on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Stephens dropped their target price on shares of Glaukos from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered Glaukos from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $160.00 to $86.00 in a report on Thursday, May 1st. Finally, Truist Financial reissued a “buy” rating and issued a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming grew its position in Glaukos by 2.3% during the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock worth $487,000 after purchasing an additional 72 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Glaukos by 3.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock worth $345,000 after buying an additional 73 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Glaukos by 1.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after buying an additional 89 shares during the period. HighTower Advisors LLC grew its holdings in shares of Glaukos by 2.8% during the fourth quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock valued at $495,000 after buying an additional 91 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Glaukos by 0.7% in the 4th quarter. Handelsbanken Fonder AB now owns 14,700 shares of the medical instruments supplier’s stock valued at $2,204,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 0.1%

Shares of NYSE GKOS opened at $100.02 on Wednesday. Glaukos has a 1 year low of $77.10 and a 1 year high of $163.71. The firm has a 50-day simple moving average of $93.26 and a two-hundred day simple moving average of $119.22. The company has a market cap of $5.72 billion, a P/E ratio of -42.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.49 and a quick ratio of 5.62.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. Glaukos had a negative return on equity of 10.66% and a negative net margin of 31.40%. The firm had revenue of $106.66 million for the quarter, compared to the consensus estimate of $102.78 million. During the same period in the prior year, the business posted ($0.70) earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Research analysts anticipate that Glaukos will post -1.08 earnings per share for the current year.

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.