Truist Financial Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price target raised by research analysts at Truist Financial from $120.00 to $145.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s price target would suggest a potential upside of 24.96% from the company’s previous close.

A number of other analysts have also recently commented on GKOS. BTIG Research upped their price target on shares of Glaukos from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Needham & Company LLC increased their target price on Glaukos from $117.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Stifel Nicolaus set a $115.00 price target on Glaukos in a report on Monday, October 27th. Citigroup boosted their price objective on Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, The Goldman Sachs Group assumed coverage on Glaukos in a report on Wednesday, October 1st. They set a “buy” rating and a $103.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $116.46.

Glaukos Stock Performance

GKOS stock traded up $3.62 during mid-day trading on Thursday, hitting $116.04. The company had a trading volume of 22,403 shares, compared to its average volume of 981,848. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. The firm has a market cap of $6.66 billion, a PE ratio of -75.05 and a beta of 0.69. Glaukos has a 12 month low of $73.16 and a 12 month high of $163.71. The stock’s fifty day moving average price is $93.37 and its two-hundred day moving average price is $93.14.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company had revenue of $133.54 million during the quarter, compared to analyst estimates of $122.55 million. During the same quarter last year, the business posted ($0.28) EPS. Glaukos’s quarterly revenue was up 38.1% compared to the same quarter last year. On average, analysts forecast that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total value of $536,350.00. Following the transaction, the director directly owned 34,905 shares in the company, valued at $3,744,259.35. This represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 19,340 shares of Glaukos stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total value of $1,740,600.00. Following the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at approximately $8,312,940. This trade represents a 17.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 24,655 shares of company stock valued at $2,310,025. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GKOS. Ehrlich Financial Group bought a new position in Glaukos in the second quarter worth about $1,034,000. Royal Bank of Canada boosted its position in Glaukos by 103.2% during the 1st quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier’s stock valued at $22,464,000 after acquiring an additional 115,939 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Glaukos during the 1st quarter worth approximately $307,000. Holocene Advisors LP raised its position in shares of Glaukos by 40.1% in the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after acquiring an additional 299,118 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Glaukos by 25.1% in the 1st quarter. LPL Financial LLC now owns 15,775 shares of the medical instruments supplier’s stock worth $1,553,000 after acquiring an additional 3,163 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

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.