Glaukos Corporation (NYSE:GKOS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $132.5385.

A number of equities analysts have recently commented on GKOS shares. BTIG Research raised their price objective on shares of Glaukos from $123.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial raised their price target on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Stifel Nicolaus boosted their price target on shares of Glaukos from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Citigroup increased their price objective on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Wells Fargo & Company lifted their price objective on Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th.

Glaukos Trading Up 4.5%

Shares of GKOS stock opened at $124.04 on Thursday. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. The firm has a market cap of $7.12 billion, a P/E ratio of -80.55 and a beta of 0.67. The company has a 50 day moving average of $112.34 and a 200-day moving average of $96.59. Glaukos has a 12-month low of $73.16 and a 12-month high of $161.78.

Glaukos (NYSE:GKOS) last released 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 the consensus estimate of $122.55 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. Sell-side analysts anticipate that Glaukos will post -1.08 earnings per share for the current year.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 315 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total value of $33,075.00. Following the transaction, the chief financial officer directly owned 50,488 shares in the company, valued at approximately $5,301,240. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 329,655 shares of company stock valued at $37,752,234 in the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. M&T Bank Corp boosted its stake in shares of Glaukos by 683.7% in the 4th quarter. M&T Bank Corp now owns 28,621 shares of the medical instruments supplier’s stock valued at $3,232,000 after purchasing an additional 24,969 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Glaukos by 37.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 42,996 shares of the medical instruments supplier’s stock valued at $4,855,000 after buying an additional 11,821 shares during the period. Salomon & Ludwin LLC boosted its position in Glaukos by 111.2% during the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 239 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Glaukos by 4.3% during the fourth quarter. Evergreen Capital Management LLC now owns 3,549 shares of the medical instruments supplier’s stock valued at $401,000 after buying an additional 145 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Glaukos by 1.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,694 shares of the medical instruments supplier’s stock worth $2,224,000 after buying an additional 340 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

About Glaukos

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.