Glaukos (NYSE:GKOS) Earns “Buy” Rating from BTIG Research

Glaukos (NYSE:GKOS)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $162.00 target price on the medical instruments supplier’s stock. BTIG Research’s target price suggests a potential upside of 27.84% from the company’s current price.

Several other brokerages have also recently commented on GKOS. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Needham & Company LLC increased their price objective on Glaukos from $127.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company raised their price objective on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $170.00 target price on Glaukos in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.17.

Glaukos Stock Up 3.9%

GKOS stock opened at $126.72 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The firm has a market capitalization of $7.44 billion, a P/E ratio of -38.63 and a beta of 0.82. Glaukos has a 52-week low of $73.16 and a 52-week high of $148.11. The company’s 50 day simple moving average is $123.04 and its 200-day simple moving average is $115.74.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million during the quarter, compared to analyst estimates of $137.00 million. During the same quarter last year, the business posted ($0.22) EPS. The company’s revenue was up 41.2% on a year-over-year basis. As a group, equities research analysts anticipate that Glaukos will post -0.57 EPS for the current year.

Insider Transactions at Glaukos

In related news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer owned 43,681 shares in the company, valued at $6,115,340. This trade represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,930 shares of company stock valued at $6,321,363 in the last three months. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp raised its position in Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Glaukos in the fourth quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.