Glaukos (NYSE:GKOS) Rating Increased to Strong-Buy at HC Wainwright

Glaukos (NYSE:GKOS) was upgraded by stock analysts at HC Wainwright to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on the company. William Blair reissued an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, BTIG Research reiterated a “buy” rating and issued a $162.00 price objective on shares of Glaukos in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.62.

Glaukos Stock Down 0.2%

NYSE:GKOS traded down $0.25 during mid-day trading on Monday, hitting $148.45. The company had a trading volume of 72,309 shares, compared to its average volume of 883,709. The business has a fifty day simple moving average of $129.86 and a 200-day simple moving average of $119.65. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. Glaukos has a 1 year low of $73.16 and a 1 year high of $150.26. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of -45.11 and a beta of 0.75.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. Equities analysts forecast that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In related news, Director Leana Wen sold 1,700 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director directly owned 19,739 shares of the company’s stock, valued at $2,829,585.65. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 19,573 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the sale, the chief operating officer directly owned 73,419 shares in the company, valued at $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,273 shares of company stock worth $5,832,003 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of GKOS. Janus Henderson Group PLC grew its stake in Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Wellington Management Group LLP raised its stake in Glaukos by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after buying an additional 1,123,140 shares during the last quarter. State Street Corp lifted its holdings in Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after buying an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after acquiring an additional 68,497 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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.