Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Glaukos (NYSE:GKOS) had its price target hoisted by research analysts at Needham & Company LLC from $149.00 to $176.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price would suggest a potential upside of 39.64% from the stock’s current price.

Several other research analysts have also weighed in on GKOS. Stephens upgraded shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Mizuho upgraded shares of Glaukos from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $140.00 to $200.00 in a research note on Wednesday. Truist Financial boosted their price objective on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, BTIG Research boosted their price objective on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Stock Performance

NYSE GKOS opened at $126.03 on Friday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos has a 1-year low of $83.90 and a 1-year high of $163.71. The company has a 50 day moving average of $152.75 and a 200-day moving average of $139.41. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -43.91 and a beta of 1.04.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. On average, equities analysts forecast that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at $10,658,380.18. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,744 shares of company stock valued at $2,792,151 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Institutional investors and hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in shares of Glaukos during the 3rd quarter worth approximately $25,000. IFP Advisors Inc bought a new stake in shares of Glaukos during the 4th quarter worth approximately $43,000. Asset Planning Inc bought a new stake in shares of Glaukos during the 4th quarter worth approximately $90,000. CoreCap Advisors LLC lifted its holdings in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after acquiring an additional 200 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Glaukos by 2,263.2% during the 3rd 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 period. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.