Wells Fargo & Company Boosts Glaukos (NYSE:GKOS) Price Target to $110.00

Glaukos (NYSE:GKOS) had its price target raised by Wells Fargo & Company from $103.00 to $110.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Glaukos from $108.00 to $113.00 and gave the company a buy rating in a research report on Thursday. Mizuho upped their price target on Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Stifel Nicolaus reaffirmed a buy rating and set a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Finally, Citigroup raised their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Glaukos has a consensus rating of Moderate Buy and a consensus target price of $107.00.

Glaukos Stock Performance

NYSE:GKOS traded up $1.48 on Thursday, hitting $106.51. The stock had a trading volume of 507,497 shares, compared to its average volume of 497,055. The business’s 50-day simple moving average is $93.33 and its two-hundred day simple moving average is $82.96. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08. Glaukos has a 52-week low of $49.19 and a 52-week high of $108.22. The company has a quick ratio of 4.78, a current ratio of 5.38 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. Glaukos’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.59) EPS. As a group, research analysts predict that Glaukos will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction dated 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 owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alex R. Thurman sold 474 shares of Glaukos 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 sale, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at $4,962,758.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 1,372 shares of the 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 $5,281,567.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,881 shares of company stock worth $21,965,491. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several large investors have recently bought and sold shares of the business. Invesco Ltd. grew its stake in shares of Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after buying an additional 453,756 shares in the last quarter. Norges Bank purchased a new position in Glaukos in the fourth quarter worth about $28,807,000. Rhenman & Partners Asset Management AB increased its stake in Glaukos by 236.8% during the third quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock worth $24,080,000 after acquiring an additional 225,000 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Glaukos during the fourth quarter valued at approximately $15,065,000. Finally, Primecap Management Co. CA lifted its stake in shares of Glaukos by 23.7% in the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after purchasing an additional 151,415 shares during the last quarter. Institutional investors 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.