Citigroup Boosts Glaukos (NYSE:GKOS) Price Target to $130.00

Glaukos (NYSE:GKOSFree Report) had its target price increased by Citigroup from $120.00 to $130.00 in a report released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the medical instruments supplier’s stock.

Other analysts also recently issued reports about the company. Needham & Company LLC increased their price objective on Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Truist Financial restated a buy rating and set a $125.00 price objective (up from $120.00) on shares of Glaukos in a research note 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. JPMorgan Chase & Co. boosted their price target on shares of Glaukos from $108.00 to $110.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus reiterated a buy rating and issued a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $109.55.

Read Our Latest Analysis on Glaukos

Glaukos Price Performance

Shares of GKOS opened at $108.89 on Wednesday. The business’s fifty day moving average is $99.60 and its 200 day moving average is $87.22. Glaukos has a 12-month low of $54.38 and a 12-month high of $113.97. The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.48 billion, a P/E ratio of -37.81 and a beta of 1.08.

Glaukos (NYSE:GKOSGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted ($0.59) earnings per share. Sell-side analysts anticipate that Glaukos will post -2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 8,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $92.00, for a total transaction of $736,000.00. Following the completion of the transaction, the director now owns 8,347 shares in the company, valued at approximately $767,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gilbert H. Kliman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $92.00, for a total value of $736,000.00. Following the completion of the transaction, the director now directly owns 8,347 shares of the company’s stock, valued at approximately $767,924. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the sale, the chief financial officer now directly owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Insiders have sold a total of 93,225 shares of company stock worth $9,284,276 over the last ninety days. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Glaukos by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after acquiring an additional 72,159 shares during the period. Brown Capital Management LLC boosted its holdings in Glaukos by 3.4% in the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after purchasing an additional 89,420 shares during the period. Fred Alger Management LLC grew its position in shares of Glaukos by 9.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after purchasing an additional 150,102 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Glaukos by 45.5% in the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after purchasing an additional 453,756 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after buying an additional 31,213 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

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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.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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