Glaukos (NYSE:GKOS) Upgraded by Jefferies Financial Group to “Buy”

Jefferies Financial Group upgraded shares of Glaukos (NYSE:GKOS) from a hold rating to a buy rating in a report released on Monday morning, Marketbeat.com reports. Jefferies Financial Group currently has $125.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $84.00.

Other equities analysts have also issued reports about the company. BTIG Research upped their target price on Glaukos from $107.00 to $112.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Mizuho upped their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Wells Fargo & Company raised their target price on shares of Glaukos from $103.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. StockNews.com downgraded shares of Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $110.00 price target on shares of Glaukos in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $108.64.

Glaukos Price Performance

NYSE:GKOS opened at $107.64 on Monday. Glaukos has a 12-month low of $54.38 and a 12-month high of $110.73. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -37.38 and a beta of 1.08. The company’s 50-day moving average is $94.66 and its two-hundred day moving average is $83.95. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

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

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 442 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.69, for a total value of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares in the company, valued at approximately $5,505,392.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Alex R. Thurman sold 434 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the transaction, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alex R. Thurman sold 442 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total transaction of $46,714.98. Following the sale, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at $5,505,392.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,544 shares of company stock worth $21,767,497. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in shares of Glaukos by 45.5% during the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after buying an additional 453,756 shares during the last quarter. Norges Bank bought a new position in Glaukos during the 4th quarter valued at $28,807,000. Rhenman & Partners Asset Management AB grew its holdings in Glaukos by 236.8% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock worth $24,080,000 after acquiring an additional 225,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Glaukos in the 4th quarter worth about $15,065,000. Finally, Primecap Management Co. CA raised its stake in shares of Glaukos by 23.7% in the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after purchasing an additional 151,415 shares in the last quarter. 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.