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

Shares of Glaukos Corporation (NYSE:GKOS) have earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $144.4167.

GKOS has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a report on Wednesday, January 14th. Citigroup boosted their target price on Glaukos from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. BTIG Research upped their price target on Glaukos from $131.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Needham & Company LLC increased their price target on shares of Glaukos from $127.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st.

Insider Buying and Selling

In related news, Director Leana Wen sold 1,700 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. This represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph E. Gilliam sold 19,573 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares in the company, valued at $10,538,563.26. The trade was a 21.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 55,930 shares of company stock valued at $7,378,263. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in shares of Glaukos by 102.6% during the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after purchasing an additional 158 shares during the period. First Horizon Corp grew its position in shares of Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 223 shares during the period. Los Angeles Capital Management LLC bought a new stake in Glaukos during the 4th quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. Finally, REAP Financial Group LLC acquired a new stake in Glaukos during the 3rd quarter worth approximately $40,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

GKOS opened at $137.19 on Friday. The company has a fifty day moving average price of $116.05 and a two-hundred day moving average price of $110.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos has a 52 week low of $73.16 and a 52 week high of $146.75. The firm has a market capitalization of $8.06 billion, a PE ratio of -41.83 and a beta of 0.94.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. During the same quarter in the prior year, the business posted ($0.22) EPS. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, analysts anticipate that Glaukos will post -0.57 earnings per share for the current year.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.