Glaukos (NYSE:GKOS) Price Target Raised to $160.00

Glaukos (NYSE:GKOS) had its price target lifted by Wells Fargo & Company from $153.00 to $160.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical instruments supplier’s stock.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Morgan Stanley lowered shares of 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. UBS Group started coverage on shares of Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price objective for the company. Truist Financial lifted their price target 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, JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Trading Down 19.9 %

Shares of NYSE GKOS opened at $126.03 on Friday. Glaukos has a 1 year low of $83.90 and a 1 year high of $163.71. The stock has a market cap of $6.95 billion, a P/E ratio of -43.91 and a beta of 1.04. The firm has a 50-day moving average of $152.75 and a 200 day moving average of $139.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, sell-side analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $15,310,024.65. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,744 shares of company stock valued at $2,792,151. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Several large investors have recently added to or reduced their stakes in the company. Forum Financial Management LP purchased a new position in Glaukos during the fourth quarter valued at approximately $211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Glaukos by 20.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 162,326 shares of the medical instruments supplier’s stock worth $24,339,000 after buying an additional 27,889 shares in the last quarter. State of Wyoming lifted its holdings in shares of Glaukos by 2.3% in the fourth quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock worth $487,000 after buying an additional 72 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of Glaukos by 18.4% in the fourth quarter. Thornburg Investment Management Inc. now owns 45,583 shares of the medical instruments supplier’s stock worth $6,835,000 after buying an additional 7,072 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Glaukos by 44.0% in the fourth quarter. ProShare Advisors LLC now owns 14,869 shares of the medical instruments supplier’s stock worth $2,229,000 after buying an additional 4,542 shares in the last quarter. Hedge funds and other 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.