Glaukos Corporation (GKOS) Receives $47.80 Consensus PT from Analysts
Shares of Glaukos Corporation (NYSE:GKOS) have received a consensus recommendation of “Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $46.40.
Several brokerages have issued reports on GKOS. BidaskClub raised Glaukos Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $54.00) on shares of Glaukos Corporation in a report on Thursday, September 14th. Zacks Investment Research lowered Glaukos Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $56.00 price objective on shares of Glaukos Corporation in a report on Thursday, August 3rd. Finally, Roth Capital dropped their price objective on Glaukos Corporation from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd.
Glaukos Corporation (NYSE GKOS) traded down $1.35 during trading on Friday, reaching $28.65. The company’s stock had a trading volume of 696,200 shares, compared to its average volume of 620,101. Glaukos Corporation has a one year low of $28.63 and a one year high of $52.49. The firm has a market capitalization of $1,036.96, a PE ratio of 250.00 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, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $40.41 million for the quarter, compared to analysts’ expectations of $38.69 million. Glaukos Corporation had a positive return on equity of 3.50% and a negative net margin of 0.64%. Glaukos Corporation’s quarterly revenue was up 36.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. equities research analysts predict that Glaukos Corporation will post -0.02 EPS for the current year.
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In related news, Director Orbimed Advisors Llc sold 580,200 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $38.73, for a total transaction of $22,471,146.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas William Burns sold 73,788 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $41.36, for a total value of $3,051,871.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 980,200 shares of company stock worth $37,900,263. Corporate insiders own 16.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Ameritas Investment Partners Inc. grew its holdings in shares of Glaukos Corporation by 93.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 1,212 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Glaukos Corporation during the third quarter worth about $111,000. BNP Paribas Arbitrage SA boosted its holdings in Glaukos Corporation by 740.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,539 shares of the medical instruments supplier’s stock valued at $147,000 after purchasing an additional 3,118 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Glaukos Corporation in the 1st quarter valued at approximately $204,000. Finally, Quantbot Technologies LP boosted its holdings in Glaukos Corporation by 291.3% in the 3rd quarter. Quantbot Technologies LP now owns 7,653 shares of the medical instruments supplier’s stock valued at $252,000 after purchasing an additional 5,697 shares in the last quarter.
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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