Glaukos Corporation (NYSE:GKOS) Receives $133.69 Average Target Price from Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $133.6923.

Several equities research analysts have recently weighed in on GKOS shares. UBS Group lifted their target price on shares of Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. BTIG Research reaffirmed a “buy” rating and set a $131.00 price target on shares of Glaukos in a research report on Wednesday, February 18th. Truist Financial increased their price target on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, January 22nd. Finally, Stephens boosted their price objective on Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd.

Insider Activity

In related news, CFO Alex R. Thurman sold 625 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.15, for a total transaction of $61,968.75. Following the transaction, the chief financial officer directly owned 49,249 shares of the company’s stock, valued at $4,883,038.35. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 320,625 shares of company stock worth $37,264,878. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AustralianSuper Pty Ltd lifted its holdings in shares of Glaukos by 10.8% in the third quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier’s stock valued at $36,685,000 after purchasing an additional 43,750 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Glaukos by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock worth $54,645,000 after buying an additional 27,646 shares in the last quarter. Riverbridge Partners LLC raised its position in Glaukos by 41.0% in the 3rd quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock valued at $46,454,000 after buying an additional 165,673 shares during the last quarter. Holocene Advisors LP lifted its stake in Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after acquiring an additional 299,118 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in Glaukos during the 3rd quarter valued at $1,157,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 1.3%

NYSE GKOS opened at $100.81 on Friday. The firm has a market capitalization of $5.85 billion, a PE ratio of -30.92 and a beta of 0.70. The business’s 50-day moving average price is $113.46 and its two-hundred day moving average price is $101.51. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10. Glaukos has a 12 month low of $73.16 and a 12 month high of $130.23.

Glaukos (NYSE:GKOS) last released its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, analysts expect that Glaukos will post -1.08 EPS for the current year.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.