Glaukos (NYSE:GKOS) Upgraded by Wall Street Zen to “Buy” Rating

Glaukos (NYSE:GKOS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on GKOS. Wells Fargo & Company lifted their target price on shares of Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. BTIG Research lifted their price objective on Glaukos from $123.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Stifel Nicolaus increased their target price on Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. William Blair upgraded Glaukos to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Truist Financial upped their price target on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $132.54.

Glaukos Price Performance

Shares of Glaukos stock opened at $112.54 on Friday. The business has a 50 day moving average of $114.34 and a 200 day moving average of $97.45. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.78. The company has a market cap of $6.46 billion, a PE ratio of -73.08 and a beta of 0.70. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other news, Director Marc Stapley sold 15,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total value of $1,915,650.00. Following the sale, the director directly owned 37,449 shares of the company’s stock, valued at approximately $4,782,611.79. This represents a 28.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the transaction, the chief executive officer owned 153,775 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 329,655 shares of company stock valued at $37,752,234. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GKOS. Norges Bank bought a new stake in shares of Glaukos during the second quarter valued at approximately $76,314,000. UBS Group AG boosted its stake in Glaukos by 316.0% during the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after purchasing an additional 663,849 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Glaukos by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after purchasing an additional 609,523 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Glaukos by 38.5% in the third quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock worth $141,365,000 after purchasing an additional 481,620 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Glaukos in the second quarter worth $41,946,000. 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.