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

Glaukos Corporation (NYSE:GKOS) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $154.8462.

A number of analysts recently weighed in on GKOS shares. BTIG Research restated a “buy” rating and issued a $164.00 price objective on shares of Glaukos in a report on Monday, July 13th. Needham & Company LLC lifted their target price on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Glaukos in a report on Wednesday, July 1st. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, HC Wainwright started coverage on Glaukos in a research note on Monday, July 6th. They issued a “buy” rating and a $168.00 price target for the company.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the sale, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,115,340. This represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,273 shares of company stock valued at $8,882,003 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several large investors have recently modified their holdings of the company. Handelsbanken Fonder AB raised its stake in Glaukos by 5.9% during the second quarter. Handelsbanken Fonder AB now owns 19,800 shares of the medical instruments supplier’s stock worth $2,767,000 after buying an additional 1,100 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Glaukos by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 9,892 shares of the medical instruments supplier’s stock valued at $1,383,000 after acquiring an additional 440 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Glaukos by 932.5% during the second quarter. Assenagon Asset Management S.A. now owns 108,736 shares of the medical instruments supplier’s stock valued at $15,197,000 after acquiring an additional 98,205 shares during the last quarter. GAMMA Investing LLC grew its holdings in Glaukos by 35.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,165 shares of the medical instruments supplier’s stock worth $442,000 after acquiring an additional 827 shares during the period. Finally, Moody National Bank Trust Division acquired a new stake in Glaukos during the 2nd quarter worth about $246,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Trading Down 0.2%

GKOS opened at $152.81 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $161.53. The company’s 50 day moving average price is $135.45 and its two-hundred day moving average price is $122.94. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of -46.59 and a beta of 0.75.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) earnings per share. As a group, research analysts predict that Glaukos will post -0.57 earnings per share for the current year.

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.