Glaukos (NYSE:GKOS) Price Target Raised to $145.00 at Truist Financial

Glaukos (NYSE:GKOS) had its price objective increased by Truist Financial from $120.00 to $145.00 in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on GKOS. Stifel Nicolaus set a $115.00 price target on Glaukos in a report on Monday, October 27th. JPMorgan Chase & Co. raised their target price on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BTIG Research upped their target price on shares of Glaukos from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Citigroup boosted their price target on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $61.00 price target on shares of Glaukos in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.46.

Glaukos Stock Up 0.9%

Shares of GKOS opened at $113.43 on Thursday. The company’s fifty day moving average is $93.90 and its two-hundred day moving average is $93.28. The firm has a market cap of $6.52 billion, a PE ratio of -73.66 and a beta of 0.69. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The business had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. During the same quarter in the previous year, the business earned ($0.28) EPS. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. Analysts forecast that Glaukos will post -1.08 earnings per share for the current year.

Insider Activity

In related news, CFO Alex R. Thurman sold 315 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total transaction of $33,075.00. Following the completion of the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the sale, the director owned 34,905 shares in the company, valued at approximately $3,744,259.35. The trade was a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,655 shares of company stock valued at $2,310,025. Insiders own 5.80% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Glaukos in the 2nd quarter valued at approximately $76,314,000. Primecap Management Co. CA lifted its holdings in Glaukos by 50.0% in the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock valued at $188,814,000 after buying an additional 609,523 shares during the period. Alliancebernstein L.P. grew its position in shares of Glaukos by 38.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock worth $141,365,000 after buying an additional 481,620 shares during the period. AustralianSuper Pty Ltd bought a new stake in Glaukos in the second quarter valued at approximately $41,946,000. Finally, William Blair Investment Management LLC increased its holdings in shares of Glaukos by 52.4% in the second quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier’s stock worth $117,347,000 after acquiring an additional 390,805 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

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.