Glaukos Corporation (GKOS) – What Are Brokerages Saying About This Stock?

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $216.71.

A number of research analysts recently weighed in on GKOS shares. UBS Group initiated coverage on Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective (up from $195.00) on shares of Glaukos in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on Glaukos from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th.

Glaukos Stock Performance

NYSE:GKOS opened at $223.96 on Friday. The firm has a market capitalization of $13.26 billion, a PE ratio of -76.18 and a beta of 0.68. Glaukos has a 1 year low of $80.90 and a 1 year high of $255.18. The company has a current ratio of 4.57, a quick ratio of 4.09 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $178.24 and its 200 day simple moving average is $144.09.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.57. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The business had revenue of $211.03 million for the quarter, compared to the consensus estimate of $168.04 million. During the same period in the prior year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was up 58.0% on a year-over-year basis. On average, sell-side analysts anticipate that Glaukos will post 0.50 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, Director Gilbert Kliman sold 2,500 shares of Glaukos stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total transaction of $632,500.00. Following the completion of the sale, the director owned 37,406 shares of the company’s stock, valued at $9,463,718. This trade represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. The trade was a 45.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 65,000 shares of company stock worth $11,891,900. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Valued Retirements Inc. purchased a new stake in Glaukos during the 3rd quarter worth $263,000. Russell Investments Group Ltd. grew its position in Glaukos by 24.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 37,350 shares of the medical instruments supplier’s stock worth $6,133,000 after acquiring an additional 7,265 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Glaukos by 53.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,143 shares of the medical instruments supplier’s stock worth $2,158,000 after purchasing an additional 4,600 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Glaukos during the 3rd quarter worth about $7,241,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Glaukos by 17.7% in the third quarter. Illinois Municipal Retirement Fund now owns 30,142 shares of the medical instruments supplier’s stock valued at $4,949,000 after buying an additional 4,528 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.