JPMorgan Chase & Co. Raises Glaukos (NYSE:GKOS) Price Target to $110.00

Glaukos (NYSE:GKOS) had its target price upped by JPMorgan Chase & Co. from $108.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical instruments supplier’s stock.

Other analysts also recently issued research reports about the company. Truist Financial restated a buy rating and set a $125.00 target price (up previously from $120.00) on shares of Glaukos in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Glaukos from $103.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday. Stifel Nicolaus reiterated a buy rating and set a $110.00 target price on shares of Glaukos in a research note on Wednesday, April 3rd. Needham & Company LLC raised their price target on shares of Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $107.00.

Glaukos Price Performance

NYSE:GKOS traded up $1.48 during midday trading on Thursday, hitting $106.51. 507,497 shares of the stock were exchanged, compared to its average volume of 497,055. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08. The company has a current ratio of 5.38, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Glaukos has a one year low of $49.19 and a one year high of $108.22. The business has a 50-day moving average price of $93.33 and a two-hundred day moving average price of $82.96.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same period in the previous year, the firm earned ($0.59) earnings per share. Glaukos’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Glaukos will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at $2,702,215. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the transaction, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the transaction, the director now owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,881 shares of company stock worth $21,965,491. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in shares of Glaukos during the 4th quarter worth about $46,000. GAMMA Investing LLC bought a new position in Glaukos in the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC raised its stake in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in shares of Glaukos by 5,860.0% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 1,465 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds 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.