Glaukos Corporation (NYSE:GKOS) Given Average Rating of “Moderate Buy” by Brokerages

Glaukos Corporation (NYSE:GKOS) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $133.6923.

Several research analysts have weighed in on the company. Stephens upped their target price on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, January 2nd. Truist Financial increased their price objective on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. UBS Group lifted their target price on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Stifel Nicolaus boosted their target price on shares of Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st.

Glaukos Stock Down 0.9%

Shares of Glaukos stock opened at $102.26 on Friday. Glaukos has a 1 year low of $73.16 and a 1 year high of $130.23. The company has a market cap of $5.94 billion, a P/E ratio of -31.37 and a beta of 0.70. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $113.71 and a 200 day moving average price of $101.38.

Glaukos (NYSE:GKOS) last released its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. During the same period last year, the firm earned ($0.40) EPS. The company’s revenue was up 35.6% compared to the same quarter last year. As a group, analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 625 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.15, for a total transaction of $61,968.75. Following the transaction, the chief financial officer directly owned 49,249 shares of the company’s stock, valued at $4,883,038.35. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 10,498 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total value of $1,340,384.64. Following the completion of the sale, the chief operating officer directly owned 92,366 shares of the company’s stock, valued at $11,793,290.88. This represents a 10.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 320,625 shares of company stock valued at $37,264,878. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GKOS. Fund Advisors of America Inc FL bought a new stake in Glaukos during the fourth quarter valued at about $219,000. Corient Private Wealth LLC lifted its position in shares of Glaukos by 999.3% during the 4th quarter. Corient Private Wealth LLC now owns 30,978 shares of the medical instruments supplier’s stock worth $3,498,000 after purchasing an additional 28,160 shares during the last quarter. Invesco Ltd. lifted its position in shares of Glaukos by 28.5% during the 4th quarter. Invesco Ltd. now owns 780,267 shares of the medical instruments supplier’s stock worth $88,100,000 after purchasing an additional 172,825 shares during the last quarter. Summit Global Investments boosted its stake in Glaukos by 151.3% during the 4th quarter. Summit Global Investments now owns 7,052 shares of the medical instruments supplier’s stock valued at $796,000 after purchasing an additional 4,246 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Glaukos by 331.8% during the 4th quarter. Mackenzie Financial Corp now owns 15,404 shares of the medical instruments supplier’s stock valued at $1,756,000 after purchasing an additional 11,837 shares during the period. Institutional investors own 99.04% of the company’s stock.

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.