Glaukos Corp. (GKOS) Given Average Recommendation of “Buy” by Brokerages
Glaukos Corp. (NYSE:GKOS) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.20.
Several analysts have commented on the company. Zacks Investment Research upgraded Glaukos Corp. from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Wednesday, October 5th. Stifel Nicolaus reiterated a “hold” rating on shares of Glaukos Corp. in a research note on Tuesday, September 27th. Cantor Fitzgerald reiterated a “buy” rating and set a $41.00 target price on shares of Glaukos Corp. in a research note on Sunday, September 25th. Roth Capital increased their target price on Glaukos Corp. from $36.50 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. increased their target price on Glaukos Corp. to $42.00 in a research note on Tuesday, August 2nd.
In related news, CFO Richard L. Harrison sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the transaction, the chief financial officer now directly owns 11,388 shares of the company’s stock, valued at approximately $398,693.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan Silverstein sold 292,938 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $33.69, for a total value of $9,869,081.22. The disclosure for this sale can be found here. Insiders own 36.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Cupps Capital Management LLC bought a new position in shares of Glaukos Corp. during the third quarter worth approximately $2,478,000. Northwestern Mutual Investment Management Company LLC bought a new position in shares of Glaukos Corp. during the second quarter worth approximately $359,000. Schwab Charles Investment Management Inc. boosted its position in shares of Glaukos Corp. by 104.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 43,096 shares of the company’s stock worth $1,257,000 after buying an additional 22,052 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Glaukos Corp. during the second quarter worth approximately $373,000. Finally, Numeric Investors LLC bought a new position in shares of Glaukos Corp. during the second quarter worth approximately $1,467,000. 71.91% of the stock is currently owned by institutional investors.
Shares of Glaukos Corp. (NYSE:GKOS) traded up 0.06% during trading on Friday, hitting $35.75. The stock had a trading volume of 73,899 shares. The firm’s market capitalization is $1.18 billion. The stock’s 50-day moving average price is $35.23 and its 200 day moving average price is $28.39. Glaukos Corp. has a 1-year low of $14.25 and a 1-year high of $39.82.
Glaukos Corp. (NYSE:GKOS) last issued its earnings results on Monday, August 1st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. Glaukos Corp. had a negative return on equity of 1.14% and a negative net margin of 1.23%. The business had revenue of $28.60 million for the quarter, compared to the consensus estimate of $24.45 million. During the same period last year, the business posted ($1.30) EPS. The company’s revenue was up 60.7% compared to the same quarter last year. On average, analysts anticipate that Glaukos Corp. will post $0.11 earnings per share for the current year.
Glaukos Corp. Company Profile
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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