Needham & Company LLC Raises Glaukos (NYSE:GKOS) Price Target to $113.00

Glaukos (NYSE:GKOS) had its price objective upped by Needham & Company LLC from $108.00 to $113.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other research firms also recently commented on GKOS. Citigroup upped their price objective on shares of Glaukos from $107.00 to $120.00 and gave the company a buy rating in a report on Monday, March 25th. StockNews.com downgraded shares of Glaukos from a hold rating to a sell rating in a research note on Tuesday, February 27th. Stifel Nicolaus reaffirmed a buy rating and issued a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their target price on shares of Glaukos from $83.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Finally, Mizuho boosted their price objective on shares of Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Glaukos has an average rating of Moderate Buy and an average target price of $107.00.

Glaukos Price Performance

GKOS stock traded up $1.48 during mid-day trading on Thursday, hitting $106.51. 507,497 shares of the stock were exchanged, compared to its average volume of 497,055. The business has a fifty day moving average price of $93.33 and a 200 day moving average price of $82.96. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.78. Glaukos has a 12 month low of $49.19 and a 12 month high of $108.22.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.59) EPS. On average, sell-side analysts anticipate that Glaukos will post -2.2 EPS for the current year.

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the transaction, the chief financial officer now directly owns 54,916 shares in the company, valued at approximately $4,962,758.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the sale, the chief financial officer now owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares of the company’s stock, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. National Bank of Canada FI bought a new position in shares of Glaukos in the fourth quarter worth about $46,000. GAMMA Investing LLC purchased a new stake in shares of Glaukos in the 4th quarter valued at $55,000. Quadrant Capital Group LLC boosted its holdings in Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after purchasing an additional 270 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its holdings in Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

About Glaukos

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.