JPMorgan Chase & Co. Boosts Glaukos (NYSE:GKOS) Price Target to $110.00

Glaukos (NYSE:GKOS) had its target price hoisted by JPMorgan Chase & Co. from $108.00 to $110.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Other analysts have also issued research reports about the stock. Truist Financial reiterated a buy rating and issued a $125.00 target price (up previously from $120.00) on shares of Glaukos in a research note on Thursday. Stifel Nicolaus reiterated a buy rating and issued a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. StockNews.com downgraded Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Needham & Company LLC increased their price target on Glaukos from $108.00 to $113.00 and gave the company a buy rating in a research report on Thursday. Finally, Citigroup lifted their price target on Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $107.00.

Glaukos Stock Up 1.4 %

NYSE GKOS traded up $1.48 during trading hours on Thursday, hitting $106.51. The company’s stock had a trading volume of 507,497 shares, compared to its average volume of 497,055. The company has a market capitalization of $5.35 billion, a PE ratio of -36.98 and a beta of 1.08. The company has a current ratio of 5.38, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Glaukos has a 52 week low of $49.19 and a 52 week high of $108.22. The company’s 50-day simple moving average is $93.33 and its two-hundred day simple moving average is $82.96.

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

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 434 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the sale, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at $5,163,644.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 474 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the sale, the chief financial officer now directly owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,881 shares of company stock valued at $21,965,491. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Large investors have recently modified their holdings of the company. Xponance Inc. boosted its stake in Glaukos by 4.1% during the fourth quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock valued at $229,000 after buying an additional 113 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Glaukos by 1.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock valued at $902,000 after acquiring an additional 150 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Glaukos by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock worth $1,969,000 after purchasing an additional 163 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Glaukos by 2.1% during the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock worth $981,000 after purchasing an additional 264 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Glaukos by 17.3% in 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 purchasing an additional 270 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

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.