Stifel Nicolaus Reiterates “Hold” Rating for Glaukos Corp. (GKOS)
Glaukos Corp. (NYSE:GKOS)‘s stock had its “hold” rating reaffirmed by investment analysts at Stifel Nicolaus in a note issued to investors on Tuesday.
Other research analysts have also issued research reports about the stock. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Glaukos Corp. in a research note on Sunday, July 17th. Cantor Fitzgerald increased their price target on shares of Glaukos Corp. from $35.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of Glaukos Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, August 4th. Finally, Roth Capital increased their price target on shares of Glaukos Corp. from $36.50 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.80.
Shares of Glaukos Corp. (NYSE:GKOS) opened at 39.25 on Tuesday. The stock’s market cap is $1.30 billion. The firm’s 50-day moving average is $33.29 and its 200 day moving average is $26.79. Glaukos Corp. has a 52-week low of $14.25 and a 52-week high of $39.82.
Glaukos Corp. (NYSE:GKOS) last announced its earnings results on Monday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The company earned $28.60 million during the quarter, compared to analyst estimates of $24.45 million. Glaukos Corp. had a negative net margin of 1.23% and a negative return on equity of 1.14%. Glaukos Corp.’s revenue was up 60.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.30) earnings per share. Analysts forecast that Glaukos Corp. will post $0.10 earnings per share for the current fiscal year.
In related news, CFO Richard L. Harrison sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $35.01, for a total value of $350,100.00. Following the sale, the chief financial officer now owns 11,388 shares of the company’s stock, valued at $398,693.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 162,254 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $30.07, for a total transaction of $4,878,977.78. Following the completion of the sale, the chief executive officer now directly owns 1,388 shares in the company, valued at approximately $41,737.16. The disclosure for this sale can be found here. 36.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GKOS. BlackRock Inc. boosted its stake in shares of Glaukos Corp. by 938.2% in the second quarter. BlackRock Inc. now owns 3,748 shares of the company’s stock valued at $109,000 after buying an additional 3,387 shares during the period. BlackRock Group LTD boosted its stake in Glaukos Corp. by 116.3% in the second quarter. BlackRock Group LTD now owns 3,802 shares of the company’s stock worth $111,000 after buying an additional 2,044 shares during the last quarter. American International Group Inc. boosted its stake in Glaukos Corp. by 142.8% in the second quarter. American International Group Inc. now owns 9,623 shares of the company’s stock worth $281,000 after buying an additional 5,660 shares during the last quarter. Cadence Capital Management LLC bought a new stake in Glaukos Corp. during the second quarter worth $282,000. Finally, Inspirion Wealth Advisors LLC bought a new stake in Glaukos Corp. during the second quarter worth $289,000. 71.91% of the stock is currently owned by hedge funds and other institutional investors.
About Glaukos Corp.
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.
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