Glaukos (NYSE:GKOS) Stock Rating Reaffirmed by Truist Financial

Glaukos (NYSE:GKOS)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They currently have a $125.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $120.00. Truist Financial’s price target points to a potential upside of 17.36% from the company’s previous close.

A number of other research firms have also weighed in on GKOS. Needham & Company LLC upped their price objective on shares of Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 price target on shares of Glaukos in a research report on Wednesday, April 3rd. Citigroup lifted their price objective on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. Mizuho upped their target price on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Glaukos Price Performance

Shares of GKOS stock traded up $1.48 on Thursday, reaching $106.51. 507,497 shares of the company’s stock were exchanged, compared to its average volume of 497,055. The company’s fifty day simple moving average is $93.33 and its 200 day simple moving average is $82.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.78. Glaukos has a 52 week low of $49.19 and a 52 week high of $108.22.

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

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 474 shares of Glaukos stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the sale, the chief financial officer now directly owns 54,916 shares in the company, valued at $4,962,758.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the sale, the chief operating officer now owns 119,802 shares in the company, valued at $11,509,378.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alex R. Thurman sold 474 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 in the last three months. 6.40% of the stock is owned by insiders.

Institutional Trading of Glaukos

Several large investors have recently made changes to their positions in the business. Brown Capital Management LLC lifted its holdings in Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after acquiring an additional 89,420 shares during the period. Fred Alger Management LLC boosted its holdings in Glaukos by 9.2% during the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after buying an additional 150,102 shares in the last quarter. Invesco Ltd. grew its position in Glaukos by 45.5% during the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after buying an additional 453,756 shares during the period. Dimensional Fund Advisors LP grew its position in Glaukos by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after buying an additional 31,213 shares during the period. Finally, Primecap Management Co. CA increased its holdings in Glaukos by 23.7% in the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after buying an additional 151,415 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.