Glaukos (NYSE:GKOS) Raised to Buy at Jefferies Financial Group

Glaukos (NYSE:GKOS) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $125.00 target price on the medical instruments supplier’s stock, up from their prior target price of $84.00. Jefferies Financial Group’s price target would suggest a potential upside of 17.36% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup raised their target price on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. Stifel Nicolaus reiterated a “buy” rating and set a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. Mizuho lifted their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC lifted their price target on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial reiterated a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Glaukos in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.64.

Glaukos Stock Up 1.4 %

Shares of NYSE:GKOS opened at $106.51 on Monday. The business’s 50 day simple moving average is $93.33 and its two-hundred day simple moving average is $83.07. The firm has a market cap of $5.35 billion, a P/E ratio of -36.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. Glaukos has a 52-week low of $49.19 and a 52-week high of $108.22.

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. As a group, research analysts forecast that Glaukos will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.47, for a total value of $6,008,206.47. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $10,232,367.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Joseph E. Gilliam sold 59,801 shares of Glaukos stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the completion of the sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at $10,232,367.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the sale, the chief financial officer now directly owns 52,532 shares of the company’s stock, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 over the last ninety days. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.