Glaukos (NYSE:GKOS) Price Target Raised to $131.00

Glaukos (NYSE:GKOS) had its price objective lifted by BTIG Research from $123.00 to $131.00 in a research report released on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Citigroup raised their price target on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Glaukos in a research note on Wednesday, January 14th. Piper Sandler reissued an “overweight” rating and set a $165.00 target price on shares of Glaukos in a research note on Wednesday, January 14th. Finally, Stephens boosted their target price on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.54.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $119.68 on Wednesday. Glaukos has a one year low of $73.16 and a one year high of $161.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.20 and a quick ratio of 4.47. The company has a market cap of $6.87 billion, a price-to-earnings ratio of -77.72 and a beta of 0.67. The firm has a 50 day simple moving average of $113.22 and a 200 day simple moving average of $96.85.

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

Insider Buying and Selling

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the transaction, the chief executive officer owned 153,775 shares in the company, valued at approximately $17,684,125. The trade was a 54.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Stapley sold 15,000 shares of Glaukos stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value of $1,915,650.00. Following the transaction, the director directly owned 37,449 shares in the company, valued at approximately $4,782,611.79. The trade was a 28.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 329,655 shares of company stock worth $37,752,234 over the last 90 days. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Corp grew 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 buying an additional 223 shares during the period. UMB Bank n.a. boosted its stake in Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 158 shares during the last quarter. Park Place Capital Corp grew its position in shares of Glaukos by 68.4% during the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after acquiring an additional 162 shares during the period. Farther Finance Advisors LLC grew its position 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 acquiring an additional 215 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in shares of Glaukos by 111.2% during the 4th quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 239 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.