Glaukos (NYSE:GKOS) Stock Gets Price Target Increase from BTIG Research

Glaukos (NYSE:GKOS) had its price objective hoisted by analysts at BTIG Research from $202.00 to $205.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price objective suggests a potential upside of 23.94% from the stock’s current price.

Several other research analysts have also commented on GKOS. Citigroup upped their price objective on shares of Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. HC Wainwright lifted their target price on shares of Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Wells Fargo & Company boosted their price target on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.43.

Glaukos Price Performance

Shares of GKOS stock opened at $165.40 on Monday. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The business’s 50 day moving average price is $172.82 and its 200-day moving average price is $146.99. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $150.93 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. The business’s revenue was up 49.6% compared to the same quarter last year. On average, sell-side analysts forecast that Glaukos will post -0.32 EPS for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 2,500 shares of the company’s stock in a transaction on 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 represents a 6.26% 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, COO Joseph Gilliam sold 60,000 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 93,025 shares of company stock valued at $16,550,006. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds have recently modified their holdings of GKOS. BlackRock Inc. bought a new stake in Glaukos in the second quarter worth $1,333,318,000. Jupiter Topco LLC bought a new position in shares of Glaukos during the second quarter valued at $679,614,000. Primecap Management Co. CA bought a new position in shares of Glaukos during the second quarter valued at $424,969,000. Janus Henderson Group PLC increased its holdings in shares of Glaukos by 77.2% during the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after acquiring an additional 2,329,608 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Glaukos in the 2nd quarter worth about $92,476,000. Institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company’s primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients’ dependence on glaucoma medications.

Glaukos’ glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye’s natural fluid outflow.