Wells Fargo & Company Boosts Glaukos (NYSE:GKOS) Price Target to $135.00

Glaukos (NYSE:GKOS) had its price target upped by Wells Fargo & Company from $120.00 to $135.00 in a research note released on Thursday, Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently weighed in on GKOS. BTIG Research lifted their price target on Glaukos from $112.00 to $131.00 and gave the company a buy rating in a research report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $108.00 to $110.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Jefferies Financial Group upgraded Glaukos from a hold rating to a buy rating and upped their price objective for the stock from $84.00 to $125.00 in a report on Monday, May 6th. Mizuho increased their target price on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus raised their price objective on Glaukos from $110.00 to $130.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Glaukos currently has an average rating of Moderate Buy and a consensus price target of $127.73.

Glaukos Price Performance

NYSE GKOS opened at $116.03 on Thursday. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.84 billion, a PE ratio of -40.29 and a beta of 1.05. Glaukos has a 52 week low of $59.22 and a 52 week high of $126.96. The firm’s 50-day simple moving average is $116.81 and its two-hundred day simple moving average is $102.92.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting analysts’ consensus estimates of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. During the same period in the prior year, the company posted ($0.55) EPS. Glaukos’s revenue was up 19.0% compared to the same quarter last year. Research analysts predict that Glaukos will post -2.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the sale, the director now owns 32,360 shares in the company, valued at $3,650,208. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the completion of the transaction, the chief financial officer now directly owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the transaction, the director now directly owns 32,360 shares of the company’s stock, valued at approximately $3,650,208. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,943 shares of company stock worth $2,147,190. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Several large investors have recently made changes to their positions in GKOS. National Bank of Canada FI purchased a new position in Glaukos in the 4th quarter worth approximately $46,000. GAMMA Investing LLC bought a new stake in shares of Glaukos in the 4th quarter worth $55,000. Quadrant Capital Group LLC raised its stake in shares of Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Glaukos during the second quarter valued at $187,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.