Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Truist Financial Analyst Says

Glaukos (NYSE:GKOS) had its target price increased by Truist Financial from $160.00 to $180.00 in a research note issued on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s price objective points to a potential upside of 14.67% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup increased their price objective on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and issued a $164.00 target price on shares of Glaukos in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $156.97 on Thursday. The company has a 50 day moving average of $134.39 and a 200 day moving average of $122.04. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75. Glaukos has a 12 month low of $73.16 and a 12 month high of $161.53.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the prior year, the company posted ($0.22) EPS. The business’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director directly owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares of the company’s stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,273 shares of company stock valued at $8,882,003 over the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Alliance LLC grew its holdings in shares of Glaukos by 4.5% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock worth $247,000 after acquiring an additional 98 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Glaukos by 9.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC lifted its holdings in Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares during the period. CWM LLC boosted its position in Glaukos by 25.2% in the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Glaukos by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock worth $947,000 after purchasing an additional 144 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.