Glaukos (NYSE:GKOS) PT Raised to $110.00

Glaukos (NYSE:GKOS) had its price objective hoisted by JPMorgan Chase & Co. from $108.00 to $110.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 3.28% from the stock’s previous close.

GKOS has been the topic of a number of other research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price objective on shares of Glaukos in a report on Wednesday, April 3rd. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Needham & Company LLC increased their price objective on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company increased their price objective on Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Mizuho increased their price objective on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and an average target price of $107.00.

Glaukos Trading Up 1.4 %

Shares of Glaukos stock traded up $1.48 during trading hours on Thursday, hitting $106.51. The company’s stock had a trading volume of 507,497 shares, compared to its average volume of 497,055. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.38. Glaukos has a twelve month low of $49.19 and a twelve month high of $108.22. The firm has a fifty day moving average of $93.33 and a 200-day moving average of $82.87.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The firm had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. Glaukos’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.59) EPS. On average, equities analysts forecast that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the sale, the director now owns 30,620 shares in the company, valued at $2,702,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alex R. Thurman sold 1,372 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,881 shares of company stock worth $21,965,491. 6.40% 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 bought and sold shares of GKOS. Commonwealth Equity Services LLC grew its position in shares of Glaukos by 20.7% during the third quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock worth $420,000 after acquiring an additional 959 shares during the last quarter. Xponance Inc. acquired a new position in Glaukos during the third quarter worth about $208,000. Raymond James & Associates raised its position in Glaukos by 18.9% in the third quarter. Raymond James & Associates now owns 12,898 shares of the medical instruments supplier’s stock worth $971,000 after acquiring an additional 2,053 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Glaukos by 10.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,916 shares of the medical instruments supplier’s stock valued at $746,000 after purchasing an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Glaukos in the third quarter worth approximately $203,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.