Glaukos Co. (NYSE:GKOS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Glaukos Co. (NYSE:GKOS) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $135.45.

A number of research firms have issued reports on GKOS. Piper Sandler set a $140.00 target price on shares of Glaukos in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, BTIG Research lifted their price target on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday.

Glaukos Stock Performance

NYSE:GKOS opened at $143.81 on Friday. The stock has a market capitalization of $7.93 billion, a P/E ratio of -47.62 and a beta of 1.02. Glaukos has a fifty-two week low of $59.58 and a fifty-two week high of $146.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a 50 day moving average price of $133.81 and a 200 day moving average price of $124.52.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.50) EPS. Equities research analysts forecast that Glaukos will post -1.91 EPS for the current year.

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’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 sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors have recently added to or reduced their stakes in GKOS. Values First Advisors Inc. acquired a new position in Glaukos during the third quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its position in Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after acquiring an additional 860 shares during the last quarter. GAMMA Investing LLC raised its position in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the second quarter worth about $187,000. Finally, KBC Group NV raised its position in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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.