Glaukos (NYSE:GKOS) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Glaukos (NYSE:GKOS) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat reports. Jefferies Financial Group currently has $125.00 price target on the medical instruments supplier’s stock, up from their previous price target of $84.00.

A number of other brokerages have also recently commented on GKOS. BTIG Research raised their price target on shares of Glaukos from $107.00 to $112.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Citigroup boosted their price target on Glaukos from $107.00 to $120.00 and gave the company a buy rating in a research note on Monday, March 25th. Stifel Nicolaus reissued a buy rating and set a $110.00 price objective on shares of Glaukos in a report on Wednesday, April 3rd. StockNews.com downgraded shares of Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $103.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $108.64.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $107.64 on Monday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of -37.38 and a beta of 1.08. Glaukos has a one year low of $54.38 and a one year high of $110.73. The business has a fifty day simple moving average of $94.66 and a 200 day simple moving average of $83.95. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) 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 business had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts expect that Glaukos will post -2.2 EPS for the current year.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the company’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 approximately $2,702,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total value of $441,250.00. Following the completion of the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. 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 transaction, the chief financial officer now owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,544 shares of company stock valued at $21,767,497. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in GKOS. Invesco Ltd. boosted its holdings in Glaukos by 45.5% during the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after purchasing an additional 453,756 shares during the last quarter. Norges Bank acquired a new position in shares of Glaukos during the 4th quarter worth about $28,807,000. Rhenman & Partners Asset Management AB grew its holdings in shares of Glaukos by 236.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock valued at $24,080,000 after acquiring an additional 225,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Glaukos during the fourth quarter worth about $15,065,000. Finally, Primecap Management Co. CA raised its holdings in Glaukos by 23.7% during the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after acquiring an additional 151,415 shares in 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.