Glaukos (NYSE:GKOS) Stock Price Up 6% on Analyst Upgrade

Glaukos Corporation (NYSE:GKOS) shares traded up 6% on Wednesday after BTIG Research raised their price target on the stock from $123.00 to $131.00. BTIG Research currently has a buy rating on the stock. Glaukos traded as high as $128.84 and last traded at $125.8350. 274,089 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 868,016 shares. The stock had previously closed at $118.70.

GKOS has been the topic of several other reports. UBS Group raised their price objective on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Wells Fargo & Company lifted their price objective on shares of Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Stephens raised their target price on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price target on shares of Glaukos in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.54.

Insider Buying and Selling

In other news, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction on Friday, January 16th. The stock was sold at an average price of $115.00, for a total value of $21,498,675.00. Following the transaction, the chief executive officer directly owned 153,775 shares in the company, valued at approximately $17,684,125. This trade represents a 54.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 10,498 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total value of $1,340,384.64. Following the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. This trade represents a 10.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 329,655 shares of company stock valued at $37,752,234 over the last quarter. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently made changes to their positions in GKOS. Riverbridge Partners LLC grew its holdings in Glaukos by 41.0% during the third quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after acquiring an additional 165,673 shares during the period. Holocene Advisors LP lifted its stake in shares of Glaukos by 40.1% in the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after purchasing an additional 299,118 shares during the period. Baird Financial Group Inc. boosted its holdings in Glaukos by 17.7% during the second quarter. Baird Financial Group Inc. now owns 63,379 shares of the medical instruments supplier’s stock worth $6,546,000 after buying an additional 9,545 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Glaukos by 4.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 19,905 shares of the medical instruments supplier’s stock valued at $2,056,000 after buying an additional 800 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new position in shares of Glaukos in the second quarter worth about $10,514,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. The firm has a market capitalization of $7.19 billion, a PE ratio of -81.25 and a beta of 0.67. The firm’s 50 day moving average price is $111.79 and its 200-day moving average price is $96.40.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The company had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.Glaukos’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) EPS. On average, research analysts expect that Glaukos Corporation will post -1.08 EPS 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.