Glaukos (NYSE:GKOS) Stock Rating Upgraded by StockNews.com

Glaukos (NYSE:GKOS) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

GKOS has been the subject of a number of other reports. Wells Fargo & Company increased their target price on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Morgan Stanley increased their price target on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. Finally, Needham & Company LLC increased their target price on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.45.

Glaukos Price Performance

GKOS opened at $131.59 on Monday. Glaukos has a 1 year low of $59.22 and a 1 year high of $136.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of -45.69 and a beta of 1.02. The firm’s fifty day moving average price is $128.74 and its two-hundred day moving average price is $117.78.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting analysts’ consensus estimates of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. During the same period last year, the business posted ($0.55) earnings per share. Glaukos’s revenue was up 19.0% on a year-over-year basis. As a group, analysts anticipate that Glaukos will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of Glaukos stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $13,216,581.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,250 shares of company stock valued at $4,825,873 over the last 90 days. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC bought a new position in shares of Glaukos in the fourth quarter worth approximately $216,000. SteelPeak Wealth LLC purchased a new stake in shares of Glaukos during the first quarter worth about $343,000. Allspring Global Investments Holdings LLC grew its stake in shares of Glaukos by 127.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock worth $15,657,000 after purchasing an additional 93,076 shares during the last quarter. Caldwell Sutter Capital Inc. increased its holdings in Glaukos by 5,860.0% during the 1st 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 during the period. Finally, Texas Permanent School Fund Corp raised its position in Glaukos by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 42,709 shares of the medical instruments supplier’s stock valued at $4,027,000 after purchasing an additional 622 shares during the last quarter. 99.04% of the stock is currently owned by 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.