Glaukos Corporation (NYSE:GKOS) Receives $178.08 Average Target Price from Analysts

Shares of Glaukos Corporation (NYSE:GKOS) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $178.0833.

Several brokerages have recently commented on GKOS. Citigroup lifted their price target on shares of Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Friday, July 17th. Wells Fargo & Company raised their price objective on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Needham & Company LLC lifted their target price on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, BTIG Research upped their target price on shares of Glaukos from $193.00 to $202.00 and gave the company a “buy” rating in a research report on Thursday, August 20th.

Glaukos Price Performance

Glaukos stock opened at $172.18 on Friday. The business’s 50-day simple moving average is $170.92 and its 200 day simple moving average is $139.34. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of -52.98 and a beta of 0.76. Glaukos has a 12-month low of $73.16 and a 12-month high of $191.62.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm had revenue of $185.61 million during the quarter, compared to analysts’ expectations of $150.93 million. During the same period in the previous year, the business posted ($0.24) EPS. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. As a group, research analysts anticipate that Glaukos will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. The trade was a 45.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alex Thurman sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer owned 43,906 shares of the company’s stock, valued at $7,908,787.78. This represents a 31.30% 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 113,025 shares of company stock valued at $19,600,006 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently modified their holdings of GKOS. Sequoia Financial Advisors LLC raised its position in shares of Glaukos by 11.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,311 shares of the medical instruments supplier’s stock valued at $323,000 after acquiring an additional 234 shares during the period. Integrated Wealth Concepts LLC bought a new position in Glaukos during the 2nd quarter worth approximately $253,000. IFP Advisors Inc grew its holdings in Glaukos by 523.4% during the second quarter. IFP Advisors Inc now owns 293 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 246 shares during the period. Nykredit A S acquired a new position in Glaukos during the second quarter valued at approximately $274,000. Finally, Parkside Financial Bank & Trust increased its stake in Glaukos by 20.5% in the second quarter. Parkside Financial Bank & Trust now owns 2,153 shares of the medical instruments supplier’s stock valued at $301,000 after purchasing an additional 367 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products designed to treat glaucoma, corneal disorders and other eye conditions. The company’s technologies are intended to provide alternatives to traditional treatments and support earlier intervention in the management of progressive eye disease.

Glaukos is best known for its portfolio of micro-invasive glaucoma surgery products, including the iStent family of implantable devices.