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

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

A number of analysts have weighed in on GKOS shares. JPMorgan Chase & Co. increased their price target on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $138.00 target price on shares of Glaukos in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research note on Thursday, January 22nd. Wall Street Zen lowered Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup increased their price target on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 11th.

Glaukos Stock Up 2.8%

Glaukos stock opened at $120.41 on Monday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of -36.93 and a beta of 0.70. Glaukos has a 52-week low of $73.16 and a 52-week high of $142.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69. The firm has a 50 day moving average price of $115.30 and a two-hundred day moving average price of $99.01.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $143.12 million during the quarter, compared to the consensus estimate of $132.16 million. During the same period in the prior year, the company posted ($0.40) earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. Equities analysts predict that Glaukos will post -1.08 EPS for the current year.

Insider Activity at Glaukos

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of Glaukos 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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Stapley sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total transaction of $1,915,650.00. Following the transaction, the director owned 37,449 shares in the company, valued at $4,782,611.79. This represents a 28.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 310,315 shares of company stock worth $36,011,634 over the last ninety days. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Janus Henderson Group PLC raised its position in shares of Glaukos by 183.4% during the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock worth $340,855,000 after purchasing an additional 1,953,578 shares during the period. Primecap Management Co. CA increased its stake in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Glaukos by 209.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after purchasing an additional 913,458 shares in the last quarter. Norges Bank acquired a new position in Glaukos during the second quarter worth $76,314,000. Finally, Millennium Management LLC raised its holdings in Glaukos by 75.3% during the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock worth $181,751,000 after buying an additional 691,289 shares during the last quarter. 99.04% of the stock is owned by 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.