Glaukos (NYSE:GKOS) Price Target Raised to $153.00

Glaukos (NYSE:GKOS) had its price objective hoisted by Wells Fargo & Company from $145.00 to $153.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

GKOS has been the subject of several other reports. UBS Group initiated coverage on Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. Truist Financial increased their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. BTIG Research lifted their target price on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.17.

Glaukos Stock Performance

Shares of Glaukos stock opened at $138.82 on Wednesday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a 52 week low of $65.00 and a 52 week high of $147.65. The firm’s 50 day moving average is $136.25 and its two-hundred day moving average is $126.81. The firm has a market capitalization of $7.65 billion, a P/E ratio of -45.97 and a beta of 1.03.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same period last year, the firm posted ($0.50) EPS. The company’s revenue was up 23.9% on a year-over-year basis. Research analysts forecast that Glaukos will post -1.89 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Values First Advisors Inc. purchased a new stake in Glaukos during the third quarter worth $25,000. Harvest Fund Management Co. Ltd raised its stake in shares of Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares during the last quarter. KBC Group NV boosted its position in shares of Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares in the last quarter. EWA LLC acquired a new stake in Glaukos in the 3rd quarter valued at about $209,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Glaukos during the 2nd quarter valued at about $187,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.