Glaukos (NYSE:GKOS) Coverage Initiated at UBS Group

Investment analysts at UBS Group initiated coverage on shares of Glaukos (NYSE:GKOS) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “buy” rating and a $182.00 price target on the medical instruments supplier’s stock. UBS Group’s target price would suggest a potential upside of 29.74% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BTIG Research boosted their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens upgraded Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Glaukos Price Performance

Shares of NYSE GKOS opened at $140.28 on Friday. Glaukos has a twelve month low of $59.58 and a twelve month high of $146.86. 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 company has a market capitalization of $7.73 billion, a price-to-earnings ratio of -46.45 and a beta of 1.03. The business has a 50 day simple moving average of $135.17 and a 200-day simple moving average of $125.84.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the business earned ($0.50) EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts expect that Glaukos will post -1.89 earnings per share for the current year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GKOS. Franklin Resources Inc. lifted its holdings in shares of Glaukos by 80.1% in the third quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock valued at $2,031,000 after buying an additional 6,948 shares during the period. Tidal Investments LLC lifted its holdings in shares of Glaukos by 83.1% in the third quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock valued at $1,942,000 after buying an additional 6,767 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Glaukos in the third quarter valued at $258,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Glaukos by 84.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock valued at $3,709,000 after buying an additional 13,019 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Glaukos by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares during the period. Institutional investors and hedge funds 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.