Glaukos Corporation (NYSE:GKOS) Receives $133.69 Average Price Target from Analysts

Glaukos Corporation (NYSE:GKOS) has received an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $133.6923.

GKOS has been the topic of several research reports. BTIG Research restated a “buy” rating and set a $131.00 price objective on shares of Glaukos in a report on Wednesday, February 18th. Wells Fargo & Company upped their price objective on shares of Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research report on Wednesday, January 14th. Finally, Truist Financial increased their price objective on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, December 18th.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 10,498 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at approximately $11,793,290.88. This trade represents a 10.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Stapley sold 15,000 shares of Glaukos stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the transaction, the director owned 37,449 shares in the company, valued at $4,782,611.79. This represents a 28.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 322,146 shares of company stock valued at $37,424,948 over the last 90 days. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA grew its stake in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after buying an additional 1,123,140 shares during the last quarter. Janus Henderson Group PLC increased its position in Glaukos by 183.4% during the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after buying an additional 1,953,578 shares in the last quarter. State Street Corp raised its stake in Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after buying an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after acquiring an additional 68,497 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

GKOS stock opened at $108.19 on Friday. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of -33.19 and a beta of 0.70. Glaukos has a twelve month low of $73.16 and a twelve month high of $130.23. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $113.29 and its two-hundred day simple moving average is $101.82.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $143.12 million during the quarter, compared to analysts’ expectations of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS. Analysts predict that Glaukos will post -1.08 earnings per share for the current year.

About Glaukos

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.