Glaukos (NYSE:GKOS) Price Target Lowered to $165.00 at Piper Sandler

Glaukos (NYSE:GKOS) had its price target dropped by investment analysts at Piper Sandler from $180.00 to $165.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s target price suggests a potential upside of 76.96% from the stock’s previous close.

Several other equities research analysts also recently issued reports on GKOS. Wells Fargo & Company raised their price target on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $200.00 in a report on Wednesday, February 19th. Needham & Company LLC increased their price objective on Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Truist Financial reduced their target price on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $158.25.

Glaukos Stock Up 0.4 %

NYSE GKOS traded up $0.33 during trading on Tuesday, hitting $93.24. The stock had a trading volume of 31,428 shares, compared to its average volume of 628,926. Glaukos has a 12 month low of $77.91 and a 12 month high of $163.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company’s 50-day moving average price is $112.90 and its two-hundred day moving average price is $132.45. The company has a market capitalization of $5.27 billion, a PE ratio of -32.48 and a beta of 0.88.

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

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors and hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC acquired a new position in Glaukos during the 4th quarter worth approximately $121,390,000. Alliancebernstein L.P. grew its position in Glaukos by 1,235.4% during the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after buying an additional 755,035 shares during the period. Norges Bank bought a new stake in shares of Glaukos in the fourth quarter valued at $84,490,000. Gilder Gagnon Howe & Co. LLC increased its position in shares of Glaukos by 25.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock valued at $123,742,000 after buying an additional 166,677 shares during the period. Finally, Voya Investment Management LLC grew its stake in Glaukos by 266.2% during the fourth quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier’s stock valued at $30,093,000 after acquiring an additional 145,890 shares in the last quarter. 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.