Citigroup Raises Glaukos (NYSE:GKOS) Price Target to $120.00

Glaukos (NYSE:GKOS) had its price objective raised by Citigroup from $107.00 to $120.00 in a research note published on Monday, Benzinga reports. Citigroup currently has a buy rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently issued reports on GKOS. Wells Fargo & Company upped their price objective on Glaukos from $83.00 to $103.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Piper Sandler boosted their target price on Glaukos from $90.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. upgraded shares of Glaukos from a neutral rating to an overweight rating and upped their target price for the company from $66.00 to $91.00 in a research note on Thursday, December 21st. Morgan Stanley assumed coverage on shares of Glaukos in a research note on Monday, December 4th. They set an equal weight rating and a $65.00 target price on the stock. Finally, StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $96.30.

Glaukos Stock Performance

Shares of GKOS opened at $92.69 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78. Glaukos has a one year low of $45.38 and a one year high of $97.24. The company has a 50-day simple moving average of $90.56 and a two-hundred day simple moving average of $78.31. The firm has a market capitalization of $4.59 billion, a PE ratio of -33.34 and a beta of 1.08.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same quarter last year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts anticipate that Glaukos will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the transaction, the director now owns 30,620 shares in the company, valued at approximately $2,702,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the transaction, the director now owns 30,620 shares in the company, valued at approximately $2,702,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alex R. Thurman sold 583 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $90.54, for a total value of $52,784.82. Following the transaction, the chief financial officer now owns 54,618 shares of the company’s stock, valued at approximately $4,945,113.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,183 shares of company stock worth $22,108,580. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in shares of Glaukos during the 4th quarter worth approximately $46,000. GAMMA Investing LLC bought a new stake in shares of Glaukos during the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC lifted its stake in shares of Glaukos by 257.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,238 shares of the medical instruments supplier’s stock worth $62,000 after acquiring an additional 892 shares during the last quarter. Silverarc Capital Management LLC bought a new stake in shares of Glaukos during the 2nd quarter worth approximately $71,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 329 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Company Profile

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