BMO Capital Markets Trims Glaukos Corporation (GKOS) Target Price to $40.00
Glaukos Corporation (NYSE:GKOS) had its price objective cut by BMO Capital Markets from $45.00 to $40.00 in a research note issued to investors on Wednesday. They currently have an outperform rating on the medical instruments supplier’s stock.
A number of other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald reiterated a buy rating and set a $60.00 price target on shares of Glaukos Corporation in a research note on Tuesday, November 7th. Zacks Investment Research downgraded shares of Glaukos Corporation from a hold rating to a sell rating in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Glaukos Corporation from a buy rating to a hold rating in a research note on Monday, September 18th. Stephens restated a buy rating and issued a $47.00 target price on shares of Glaukos Corporation in a research note on Friday, September 15th. Finally, Piper Jaffray Companies restated a buy rating and issued a $38.00 target price on shares of Glaukos Corporation in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $47.86.
Glaukos Corporation (GKOS) traded down $0.69 on Wednesday, reaching $30.09. 461,200 shares of the company’s stock were exchanged, compared to its average volume of 628,126. Glaukos Corporation has a 1 year low of $28.72 and a 1 year high of $52.49. The firm has a market capitalization of $1,040.06, a P/E ratio of 250.75 and a beta of 1.25.
Glaukos Corporation (NYSE:GKOS) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. Glaukos Corporation had a negative net margin of 0.64% and a positive return on equity of 3.50%. The firm had revenue of $40.41 million for the quarter, compared to the consensus estimate of $38.69 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The business’s revenue was up 36.6% compared to the same quarter last year. analysts predict that Glaukos Corporation will post -0.02 earnings per share for the current year.
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In related news, CEO Thomas William Burns sold 1,212 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $41.25, for a total transaction of $49,995.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc sold 325,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.93, for a total transaction of $12,327,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 980,200 shares of company stock worth $37,900,263. 16.40% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Shaker Investments LLC OH raised its holdings in Glaukos Corporation by 6.3% during the 3rd quarter. Shaker Investments LLC OH now owns 47,025 shares of the medical instruments supplier’s stock worth $1,552,000 after purchasing an additional 2,800 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Glaukos Corporation by 77.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 15,300 shares of the medical instruments supplier’s stock worth $634,000 after purchasing an additional 6,676 shares during the last quarter. Legal & General Group Plc raised its holdings in Glaukos Corporation by 77.6% during the 2nd quarter. Legal & General Group Plc now owns 7,240 shares of the medical instruments supplier’s stock worth $299,000 after purchasing an additional 3,164 shares during the last quarter. Koch Industries Inc. bought a new stake in Glaukos Corporation during the 2nd quarter worth about $683,000. Finally, Janus Henderson Group PLC bought a new stake in Glaukos Corporation during the 2nd quarter worth about $129,356,000.
About Glaukos Corporation
Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.
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