Glaukos Corporation (NYSE:GKOS) Stock Has Average Price Target of $216.71

Glaukos Corporation (NYSE:GKOS) has earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $216.71.

Several research firms have weighed in on GKOS. HC Wainwright upped their price objective on shares of Glaukos from $195.00 to $248.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Thursday, October 15th. Truist Financial lifted their target price on shares of Glaukos from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Zacks Research upgraded shares of Glaukos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Citigroup upped their price target on shares of Glaukos from $225.00 to $247.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th.

Glaukos Price Performance

GKOS opened at $248.00 on Friday. The stock has a fifty day moving average of $176.61 and a 200-day moving average of $143.09. The firm has a market capitalization of $14.68 billion, a P/E ratio of -84.35 and a beta of 0.68. Glaukos has a 12-month low of $80.90 and a 12-month high of $255.19. The company has a quick ratio of 4.09, a current ratio of 4.57 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.57. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The business had revenue of $211.03 million during the quarter, compared to analysts’ expectations of $168.04 million. During the same quarter last year, the firm posted ($0.16) earnings per share. Glaukos’s revenue was up 58.0% compared to the same quarter last year. Equities analysts forecast that Glaukos will post 0.50 EPS for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. This represents a 45.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total value of $475,000.00. Following the sale, the director directly owned 37,406 shares of the company’s stock, valued at $7,107,140. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 82,500 shares of company stock valued at $14,862,000. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Glaukos in the second quarter worth approximately $28,000. Fulcrum Asset Management LLP raised its position in Glaukos by 91.7% during the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Glaukos in the third quarter valued at approximately $33,000. Fortitude Family Office LLC acquired a new stake in Glaukos in the third quarter valued at approximately $36,000. Finally, Parallel Advisors LLC lifted its stake in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 226 shares during 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 therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.