Cantor Fitzgerald Analysts Give Glaukos (GKOS) a $48.00 Price Target
Glaukos (NYSE:GKOS) has been assigned a $48.00 target price by stock analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 68.07% from the company’s previous close.
A number of other equities analysts have also recently weighed in on GKOS. BMO Capital Markets cut their price target on Glaukos from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. BidaskClub cut Glaukos from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Stephens reissued a “buy” rating and issued a $47.00 price target on shares of Glaukos in a report on Friday, September 15th. Zacks Investment Research raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $38.00 price target on shares of Glaukos in a report on Friday, September 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $44.86.
Glaukos (NYSE GKOS) opened at $28.56 on Wednesday. The stock has a market capitalization of $987.19 and a price-to-earnings ratio of -952.00. Glaukos has a 1-year low of $23.08 and a 1-year high of $52.49.
Glaukos (NYSE:GKOS) last released its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. Glaukos had a return on equity of 4.12% and a net margin of 3.28%. The company had revenue of $40.41 million during the quarter, compared to analysts’ expectations of $38.69 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. research analysts predict that Glaukos will post -0.03 EPS for the current fiscal year.
In other Glaukos news, CFO Joseph E. Gilliam acquired 2,100 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average price of $23.84 per share, with a total value of $50,064.00. Following the completion of the transaction, the chief financial officer now directly owns 102,100 shares in the company, valued at $2,434,064. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 16.40% of the company’s stock.
Several large investors have recently made changes to their positions in GKOS. Janus Henderson Group PLC purchased a new stake in shares of Glaukos in the second quarter valued at $129,356,000. Bamco Inc. NY grew its position in shares of Glaukos by 104.6% in the third quarter. Bamco Inc. NY now owns 2,194,059 shares of the medical instruments supplier’s stock valued at $72,404,000 after purchasing an additional 1,121,813 shares during the period. Koch Industries Inc. purchased a new stake in shares of Glaukos in the second quarter valued at $683,000. Capital World Investors grew its position in shares of Glaukos by 17.1% in the second quarter. Capital World Investors now owns 2,740,000 shares of the medical instruments supplier’s stock valued at $113,628,000 after purchasing an additional 400,000 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Glaukos by 26.7% in the second quarter. Alliancebernstein L.P. now owns 1,636,621 shares of the medical instruments supplier’s stock valued at $67,871,000 after purchasing an additional 344,739 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.
Glaukos Company Profile
Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.
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