Stifel Nicolaus Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price target lifted by Stifel Nicolaus from $170.00 to $175.00 in a report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts have also issued research reports about the company. HC Wainwright assumed coverage on Glaukos in a research note on Monday, July 6th. They issued a “buy” rating and a $168.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a research note on Wednesday, July 1st. Truist Financial lifted their target price on Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Needham & Company LLC upped their target price on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Trading Up 1.0%

NYSE GKOS opened at $156.97 on Friday. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. The firm has a market cap of $9.22 billion, a PE ratio of -47.86 and a beta of 0.75. The company has a 50 day moving average price of $134.39 and a 200 day moving average price of $122.04. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.53.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. Glaukos’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. 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, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the sale, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This represents a 21.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leana Wen sold 1,700 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director directly owned 19,739 shares of the company’s stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 61,273 shares of company stock worth $8,882,003. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Alliance LLC lifted its stake in Glaukos by 4.5% during the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock worth $247,000 after purchasing an additional 98 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Glaukos by 9.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 122 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the period. CWM LLC boosted its holdings in shares of Glaukos by 25.2% in the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 143 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Glaukos by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds 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.