Glaukos (NYSE:GKOS) Given New $110.00 Price Target at JPMorgan Chase & Co.

Glaukos (NYSE:GKOS) had its price target boosted by JPMorgan Chase & Co. from $108.00 to $110.00 in a research note released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on GKOS. Needham & Company LLC increased their price objective on Glaukos from $108.00 to $113.00 and gave the company a buy rating in a research report on Thursday. Citigroup lifted their target price on shares of Glaukos from $107.00 to $120.00 and gave the company a buy rating in a research report on Monday, March 25th. Truist Financial reiterated a buy rating and set a $125.00 price objective (up from $120.00) on shares of Glaukos in a research note on Thursday. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus restated a buy rating and set a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $108.64.

Glaukos Stock Performance

Shares of GKOS traded up $0.03 during mid-day trading on Thursday, reaching $106.54. 207,835 shares of the company’s stock traded hands, compared to its average volume of 648,180. Glaukos has a 12 month low of $54.38 and a 12 month high of $110.73. The stock has a market capitalization of $5.35 billion, a P/E ratio of -36.98 and a beta of 1.08. The business’s 50-day moving average price is $93.33 and its 200-day moving average price is $83.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38.

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%. Glaukos’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.59) earnings per share. Equities analysts predict that Glaukos will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total value of $12,922,174.30. Following the completion of the transaction, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the sale, the director now directly owns 30,620 shares in the company, valued at approximately $2,702,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 140,245 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the sale, the chief operating officer now directly owns 98,388 shares of the company’s stock, valued at approximately $9,065,470.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,881 shares of company stock worth $21,965,491. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds have recently modified their holdings of the stock. Xponance Inc. increased its position in shares of Glaukos by 4.1% in the fourth quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock valued at $229,000 after buying an additional 113 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Glaukos by 1.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock valued at $902,000 after purchasing an additional 150 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Glaukos by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock valued at $1,969,000 after purchasing an additional 163 shares in the last quarter. Arizona State Retirement System raised its position in shares of Glaukos by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock valued at $981,000 after purchasing an additional 264 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Glaukos by 17.3% in 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 buying an additional 270 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.