Glaukos (NYSE:GKOS) Given “Buy” Rating at BTIG Research

BTIG Research restated their buy rating on shares of Glaukos (NYSE:GKOS) in a research note released on Friday, Marketbeat Ratings reports. The firm currently has a $116.00 price objective on the medical instruments supplier’s stock.

Several other research analysts also recently commented on the stock. Citigroup increased their price objective on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 11th. The Goldman Sachs Group began coverage on Glaukos in a research note on Wednesday, October 1st. They set a “buy” rating and a $103.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $61.00 price objective on shares of Glaukos in a research note on Wednesday, December 17th. Wells Fargo & Company increased their target price on Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Needham & Company LLC raised their target price on shares of Glaukos from $117.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $117.23.

Glaukos Trading Down 1.7%

Glaukos stock opened at $110.94 on Friday. Glaukos has a 1 year low of $73.16 and a 1 year high of $163.71. The firm’s 50 day moving average price is $101.38 and its 200-day moving average price is $94.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.20 and a quick ratio of 4.47. The stock has a market cap of $6.37 billion, a P/E ratio of -72.04 and a beta of 0.67.

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

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of Glaukos stock in a transaction on Tuesday, November 25th. The shares were 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 directly owned 50,488 shares of the company’s stock, valued at $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the transaction, the director owned 34,905 shares in the company, valued at $3,744,259.35. This trade represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,655 shares of company stock valued at $2,310,025. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Glaukos by 16.2% in the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 158 shares during the period. Park Place Capital Corp lifted its stake in shares of Glaukos by 68.4% during the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock worth $41,000 after acquiring an additional 162 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Glaukos by 0.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 39,305 shares of the medical instruments supplier’s stock valued at $4,060,000 after acquiring an additional 173 shares during the period. Finally, Focus Partners Wealth grew its position in Glaukos by 6.9% in the 3rd quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier’s stock valued at $202,000 after acquiring an additional 176 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.