Glaukos Corporation (GKOS) Price Target Cut to $38.00 by Analysts at BMO Capital Markets
Glaukos Corporation (NYSE:GKOS) had its target price reduced by BMO Capital Markets from $40.00 to $38.00 in a research report sent to investors on Thursday morning. They currently have an outperform rating on the medical instruments supplier’s stock.
A number of other equities analysts have also recently commented on the company. Stifel Nicolaus reiterated a buy rating on shares of Glaukos Corporation in a report on Thursday, September 14th. Zacks Investment Research cut Glaukos Corporation from a buy rating to a hold rating in a report on Monday, July 24th. BidaskClub upgraded Glaukos Corporation from a sell rating to a hold rating in a report on Friday, September 1st. Piper Jaffray Companies restated a buy rating and set a $38.00 price objective on shares of Glaukos Corporation in a report on Friday, September 15th. Finally, Cantor Fitzgerald restated 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $46.57.
Shares of Glaukos Corporation (GKOS) traded down $0.62 during trading on Thursday, hitting $26.45. The stock had a trading volume of 903,594 shares, compared to its average volume of 627,122. The stock has a market cap of $935.68 and a PE ratio of 238.75. Glaukos Corporation has a 12-month low of $26.44 and a 12-month high of $52.49.
Glaukos Corporation (NYSE:GKOS) last announced its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The firm had revenue of $40.41 million during 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%. The company’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. equities analysts anticipate that Glaukos Corporation will post -0.03 earnings per share for the current fiscal year.
In other Glaukos Corporation news, CEO Thomas William Burns sold 73,788 shares of Glaukos Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $41.36, for a total transaction of $3,051,871.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc sold 580,200 shares of Glaukos Corporation stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $38.73, for a total value of $22,471,146.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 655,200 shares of company stock valued at $25,573,013. 16.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GKOS. Ameritas Investment Partners Inc. raised its position in Glaukos Corporation by 93.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 1,212 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Glaukos Corporation during the 3rd quarter valued at $111,000. BNP Paribas Arbitrage SA raised its position in Glaukos Corporation by 740.6% during 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. bought a new stake in Glaukos Corporation during the 1st quarter valued at $204,000. Finally, Quantbot Technologies LP raised its position in Glaukos Corporation by 291.3% during 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.
Glaukos Corporation Company Profile
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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