Glaukos (NYSE:GKOS) Price Target Raised to $153.00 at Stifel Nicolaus

Glaukos (NYSE:GKOS) had its price target upped by Stifel Nicolaus from $145.00 to $153.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts have also recently weighed in on GKOS. Wells Fargo & Company upped their price objective on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial increased their target price on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.18.

Glaukos Price Performance

GKOS stock opened at $139.07 on Monday. The company has a market cap of $7.67 billion, a PE ratio of -46.05 and a beta of 1.02. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $134.36 and a two-hundred day moving average price of $125.16. Glaukos has a 12-month low of $59.58 and a 12-month high of $146.86.

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

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Glaukos

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in shares of Glaukos by 294.5% during the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after acquiring an additional 1,630,270 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Glaukos during the 2nd quarter valued at about $67,460,000. Primecap Management Co. CA grew its position in Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after purchasing an additional 372,180 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Glaukos by 148.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after purchasing an additional 246,322 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Glaukos by 47.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares during the last quarter. 99.04% of the stock is 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.