Glaukos Corporation (NYSE:GKOS) Receives $144.42 Consensus PT from Analysts

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $144.4167.

A number of analysts have issued reports on GKOS shares. Wells Fargo & Company lifted their price target on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $165.00 target price on shares of Glaukos in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research note on Thursday, April 30th.

Insider Activity at Glaukos

In other Glaukos news, Director Aimee S. Weisner sold 15,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $117.38, for a total value of $1,760,700.00. Following the completion of the transaction, the director owned 18,806 shares in the company, valued at $2,207,448.28. This represents a 44.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the transaction, the director directly owned 19,739 shares in the company, valued at approximately $2,829,585.65. The trade was a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 50,930 shares of company stock valued at $6,703,263. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of 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 during the period. Primecap Management Co. CA increased its holdings in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Glaukos by 183.4% in 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 acquiring an additional 1,953,578 shares during the period. State Street Corp raised its position in Glaukos by 0.9% in the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after purchasing an additional 68,497 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

Shares of GKOS opened at $135.17 on Friday. Glaukos has a 1 year low of $73.16 and a 1 year high of $146.75. The stock has a market capitalization of $7.94 billion, a PE ratio of -41.21 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The stock has a 50-day simple moving average of $115.40 and a 200-day simple moving average of $109.83.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, analysts predict that Glaukos will post -0.57 earnings per share for the current fiscal year.

Glaukos Company Profile

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.