Citigroup Boosts Glaukos (NYSE:GKOS) Price Target to $120.00

Glaukos (NYSE:GKOS) had its price objective hoisted by Citigroup from $107.00 to $120.00 in a research note released on Monday, Benzinga reports. Citigroup currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts have also recently issued reports on GKOS. Piper Sandler raised their target price on Glaukos from $90.00 to $105.00 and gave the stock an overweight rating in a report on Friday, December 22nd. Wells Fargo & Company raised their target price on Glaukos from $83.00 to $103.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. upgraded Glaukos from a neutral rating to an overweight rating and raised their target price for the stock from $66.00 to $91.00 in a report on Thursday, December 21st. StockNews.com cut Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC raised their target price on Glaukos from $105.00 to $108.00 and gave the stock a buy rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $96.30.

Glaukos Price Performance

Glaukos stock opened at $94.31 on Monday. The business’s 50-day simple moving average is $90.64 and its 200 day simple moving average is $78.42. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -33.92 and a beta of 1.08. Glaukos has a 12-month low of $45.38 and a 12-month high of $97.24. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The firm had revenue of $82.40 million during the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. Glaukos’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) EPS. As a group, research analysts anticipate that Glaukos will post -2.18 earnings per share for the current year.

Insider Activity at Glaukos

In related news, CEO Thomas William Burns sold 60,000 shares of Glaukos stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $82.55, for a total value of $4,953,000.00. Following the sale, the chief executive officer now owns 55,835 shares of the company’s stock, valued at approximately $4,609,179.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas William Burns sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $82.55, for a total value of $4,953,000.00. Following the transaction, the chief executive officer now directly owns 55,835 shares in the company, valued at approximately $4,609,179.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,183 shares of company stock valued at $22,108,580. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Bank of Canada FI bought a new stake in Glaukos in the 4th quarter valued at $46,000. GAMMA Investing LLC bought a new stake in Glaukos in the 4th quarter valued at $55,000. Tower Research Capital LLC TRC boosted its stake in Glaukos by 257.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,238 shares of the medical instruments supplier’s stock valued at $62,000 after purchasing an additional 892 shares during the period. Silverarc Capital Management LLC bought a new stake in Glaukos in the 2nd quarter valued at $71,000. Finally, Quadrant Capital Group LLC boosted its stake in Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after purchasing an additional 329 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.