Zacks Investment Research upgraded shares of Glaukos (NYSE:GKOS) from a sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports. They currently have $76.00 price objective on the medical instruments supplier’s stock.

According to Zacks, “Glaukos is currently progressing with the U.S. commercial rollout of its next-generation iStent inject Trabecular Micro-Bypass device. It also initiated patient enrolment of key U.S. pivotal clinical studies for iDose Travoprost and iStent Infinite. Through continued investment and a new pharmaceutical development agreement with D. Western Therapeutic Institute Glaukos expanded its pharmaceutical capabilities. A strong pipeline is indicative of brighter prospects ahead. Management is optimistic about the recent Avedro buyout. The company outperformed the industry year-to-date. With respect to quarterly results, Glaukos exited the second quarter on a tepid note. Also, Glaukos faces cutthroat competition in the Medical Devices space. Further, an overtly stringent regulatory-approval process for the iDose platform is concerning.”

Several other equities analysts have also weighed in on the company. BTIG Research reaffirmed a hold rating on shares of Glaukos in a research note on Sunday, August 11th. JPMorgan Chase & Co. set a $90.00 price objective on Glaukos and gave the company a buy rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $75.86.

Shares of NYSE GKOS traded up $1.16 during midday trading on Thursday, hitting $74.17. The stock had a trading volume of 37,565 shares, compared to its average volume of 505,701. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -200.35 and a beta of 1.70. Glaukos has a 1-year low of $50.60 and a 1-year high of $84.65. The company has a quick ratio of 6.04, a current ratio of 6.49 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $67.60 and a 200 day moving average price of $71.38.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $58.60 million during the quarter, compared to analyst estimates of $56.24 million. Glaukos had a negative net margin of 5.93% and a negative return on equity of 5.77%. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, research analysts forecast that Glaukos will post -0.5 EPS for the current year.

In related news, CFO Joseph E. Gilliam sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $73.25, for a total transaction of $183,125.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 29,977 shares of company stock worth $2,143,587 over the last three months. 8.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new position in Glaukos during the 2nd quarter worth approximately $39,000. Marshall Wace North America L.P. acquired a new position in Glaukos during the 1st quarter worth approximately $55,000. NEXT Financial Group Inc lifted its position in Glaukos by 73.7% during the 2nd quarter. NEXT Financial Group Inc now owns 1,129 shares of the medical instruments supplier’s stock worth $85,000 after acquiring an additional 479 shares in the last quarter. First Quadrant L P CA acquired a new position in Glaukos during the 2nd quarter worth approximately $86,000. Finally, Meeder Asset Management Inc. lifted its position in Glaukos by 144.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,509 shares of the medical instruments supplier’s stock worth $114,000 after acquiring an additional 891 shares in the last quarter. 96.43% of the stock is currently owned by hedge funds and other institutional investors.

About Glaukos

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

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