Brokerages Set Glaukos Corporation (NYSE:GKOS) Price Target at $146.17

Shares of Glaukos Corporation (NYSE:GKOS) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $146.1667.

Several research analysts recently commented on the stock. Wall Street Zen cut shares of Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Stifel Nicolaus set a $170.00 price objective on Glaukos in a report on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and issued a $162.00 target price on shares of Glaukos in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th.

Glaukos Stock Up 3.9%

NYSE:GKOS opened at $126.72 on Wednesday. The stock has a 50-day simple moving average of $123.04 and a 200 day simple moving average of $115.74. Glaukos has a 52-week low of $73.16 and a 52-week high of $148.11. The company has a market cap of $7.44 billion, a PE ratio of -38.63 and a beta of 0.82. 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 (NYSE:GKOS) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.22) EPS. On average, sell-side analysts expect that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director owned 35,528 shares in the company, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,930 shares of company stock worth $6,321,363. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 226 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Glaukos by 22.0% during the 1st quarter. Bank of America Corp DE now owns 657,432 shares of the medical instruments supplier’s stock worth $70,779,000 after acquiring an additional 118,754 shares during the last quarter. Janus Henderson Group PLC raised its stake in Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after acquiring an additional 2,329,608 shares during the period. Amundi lifted its holdings in Glaukos by 25.7% during the 1st quarter. Amundi now owns 26,213 shares of the medical instruments supplier’s stock valued at $2,822,000 after purchasing an additional 5,358 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Glaukos by 21.8% during the first quarter. California State Teachers Retirement System now owns 66,434 shares of the medical instruments supplier’s stock worth $7,152,000 after purchasing an additional 11,871 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

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.