Glaukos Co. (NYSE:GKOS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Glaukos Co. (NYSE:GKOS) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $129.82.

Several brokerages have issued reports on GKOS. Needham & Company LLC boosted their price target on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Piper Sandler upped their price objective on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

Glaukos Stock Down 1.8 %

Shares of NYSE GKOS opened at $127.78 on Monday. Glaukos has a 52-week low of $59.22 and a 52-week high of $136.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The company’s 50 day moving average price is $124.89 and its 200-day moving average price is $111.72. The company has a market capitalization of $6.44 billion, a P/E ratio of -44.37 and a beta of 1.03.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.52). The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business posted ($0.55) EPS. Equities analysts forecast that Glaukos will post -2.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the transaction, the chief operating officer now owns 101,845 shares in the company, valued at $12,362,964.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,500 shares of company stock valued at $5,099,000. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently modified their holdings of the business. Truist Financial Corp boosted its position in Glaukos by 8.8% in the second quarter. Truist Financial Corp now owns 18,478 shares of the medical instruments supplier’s stock worth $2,187,000 after purchasing an additional 1,490 shares during the last quarter. Creative Planning increased its position in shares of Glaukos by 126.8% during the 2nd quarter. Creative Planning now owns 7,706 shares of the medical instruments supplier’s stock valued at $912,000 after purchasing an additional 4,309 shares during the last quarter. Algert Global LLC bought a new stake in shares of Glaukos during the 2nd quarter worth $598,000. Driehaus Capital Management LLC grew its position in Glaukos by 24.0% during the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after buying an additional 155,653 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Glaukos during the second quarter valued at about $882,000. 99.04% of the stock is owned by 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.