Glaukos (NYSE:GKOS) Earns Buy Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of Glaukos (NYSE:GKOS) in a research report report published on Thursday morning, Benzinga reports. They currently have a $125.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $120.00.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC raised their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a buy rating in a report on Thursday. Citigroup raised their target price on Glaukos from $107.00 to $120.00 and gave the company a buy rating in a research note on Monday, March 25th. StockNews.com cut Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Stifel Nicolaus restated a buy rating and set a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. Finally, Mizuho lifted their price objective on Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $107.00.

Glaukos Stock Up 1.4 %

Shares of GKOS traded up $1.48 during midday trading on Thursday, reaching $106.51. 507,497 shares of the company were exchanged, compared to its average volume of 497,055. Glaukos has a 1-year low of $49.19 and a 1-year high of $108.22. The stock has a 50-day moving average price of $93.33 and a 200-day moving average price of $82.96. The company has a current ratio of 5.38, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same period last year, the firm posted ($0.59) earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. Research analysts expect that Glaukos will post -2.2 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the sale, the director now directly owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the sale, the director now owns 30,620 shares in the company, valued at $2,702,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 1,512 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.80, for a total transaction of $146,361.60. Following the sale, the chief operating officer now directly owns 119,802 shares in the company, valued at $11,596,833.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. National Bank of Canada FI acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $46,000. GAMMA Investing LLC acquired a new stake in Glaukos in the fourth quarter worth $55,000. Quadrant Capital Group LLC lifted its stake in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 329 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after acquiring an additional 270 shares during the period. Finally, Caldwell Sutter Capital Inc. grew its position in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.