Glaukos (NYSE:GKOS) Given New $205.00 Price Target at BTIG Research

Glaukos (NYSE:GKOS – Free Report) had its price target raised by BTIG Research from $202.00 to $205.00 in a research note released on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently weighed in on GKOS. Stifel Nicolaus lifted their price target on Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup increased their price objective on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Truist Financial increased their price objective on Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Finally, Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.77.

Check Out Our Latest Report on Glaukos

Glaukos Stock Up 1.6%

GKOS stock opened at $168.36 on Monday. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The firm’s 50-day simple moving average is $172.92 and its 200 day simple moving average is $146.59. The stock has a market cap of $9.93 billion, a PE ratio of -51.80 and a beta of 0.69.

Glaukos (NYSE:GKOS – Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm had revenue of $185.61 million during the quarter, compared to analyst estimates of $150.93 million. During the same period in the previous year, the business posted ($0.24) EPS. Glaukos’s revenue was up 49.6% on a year-over-year basis. As a group, sell-side analysts predict that Glaukos will post -0.32 EPS for the current year.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex Thurman sold 20,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the sale, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,908,787.78. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 525 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director owned 21,092 shares in the company, valued at $3,535,651.96. This trade represents a 2.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,025 shares of company stock worth $16,550,006 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new position in shares of Glaukos during the 1st quarter valued at about $363,000. Quantinno Capital Management LP raised its holdings in shares of Glaukos by 964.0% in the 1st quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier’s stock worth $3,320,000 after purchasing an additional 27,938 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of Glaukos by 125.3% in the 4th quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier’s stock worth $2,599,000 after purchasing an additional 12,799 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Glaukos in the 2nd quarter worth approximately $20,293,000. Finally, BlackRock Inc. bought a new stake in shares of Glaukos in the 2nd quarter worth approximately $1,333,318,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

(Get Free Report)

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company’s primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients’ dependence on glaucoma medications.

Glaukos’ glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye’s natural fluid outflow.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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