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

Glaukos (NYSE:GKOS) had its target price lifted by analysts at Truist Financial from $160.00 to $180.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s target price points to a potential upside of 13.22% from the company’s current price.

Several other research firms have also commented on GKOS. Needham & Company LLC boosted their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, July 1st. Wells Fargo & Company lifted their price objective on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. BTIG Research reissued a “buy” rating and issued a $164.00 price objective on shares of Glaukos in a research note on Monday. Finally, Citigroup upped their target price on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $154.46.

Glaukos Stock Up 1.4%

NYSE GKOS traded up $2.15 on Thursday, reaching $158.99. 204,797 shares of the stock traded hands, compared to its average volume of 874,536. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -48.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos has a 12 month low of $73.16 and a 12 month high of $161.53. The company has a fifty day moving average price of $133.49 and a 200-day moving average price of $121.52.

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

Insider Activity

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at approximately $6,770,555. This represents a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,273 shares of company stock valued at $8,882,003 in the last ninety days. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Glaukos by 2.6% during the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after acquiring an additional 198 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Glaukos by 1,405.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 2,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Glaukos by 41.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after purchasing an additional 67,668 shares during the last quarter. M&T Bank Corp acquired a new position in Glaukos during the 2nd quarter valued at approximately $203,000. Finally, Gamco Investors INC. ET AL increased its stake in Glaukos by 10.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after purchasing an additional 773 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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.