Glaukos Co. (NYSE:GKOS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Glaukos Co. (NYSE:GKOS) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $130.45.

Several analysts recently weighed in on the stock. Piper Sandler set a $140.00 target price on shares of Glaukos in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Morgan Stanley increased their price target on shares of Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, BTIG Research lifted their price objective on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

Glaukos Stock Down 0.3 %

Shares of GKOS opened at $131.38 on Tuesday. The company’s 50-day moving average price is $129.68 and its 200 day moving average price is $119.72. Glaukos has a 12-month low of $59.22 and a 12-month high of $139.51. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The firm has a market cap of $7.22 billion, a P/E ratio of -40.30 and a beta of 1.02.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares in the company, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,525 shares of company stock valued at $5,142,029 over the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors have recently modified their holdings of GKOS. Values First Advisors Inc. acquired a new stake in Glaukos in the third quarter valued at $25,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the second quarter worth about $187,000. Brighton Jones LLC purchased a new position in Glaukos in the second quarter valued at about $208,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Glaukos during the 3rd quarter valued at approximately $210,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.