Glaukos (NYSE:GKOS) Price Target Raised to $153.00 at Stifel Nicolaus

Glaukos (NYSE:GKOS) had its price objective hoisted by equities researchers at Stifel Nicolaus from $145.00 to $153.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ target price points to a potential upside of 7.76% from the stock’s previous close.

Several other research firms have also commented on GKOS. Truist Financial lifted their price target on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. BTIG Research raised their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.18.

Glaukos Price Performance

Shares of NYSE:GKOS traded down $1.67 during midday trading on Monday, hitting $141.98. The company’s stock had a trading volume of 42,243 shares, compared to its average volume of 567,822. Glaukos has a 12-month low of $59.58 and a 12-month high of $146.86. The company has a market cap of $7.83 billion, a P/E ratio of -47.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business’s 50 day simple moving average is $134.13 and its 200 day simple moving average is $124.96.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the previous year, the firm posted ($0.50) EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts forecast that Glaukos will post -1.91 EPS for the current year.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

A number of large investors have recently made changes to their positions in GKOS. HighTower Advisors LLC boosted its holdings in Glaukos by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. lifted its holdings in shares of Glaukos by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after purchasing an additional 128 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Glaukos in the third quarter valued at about $25,000. New York State Teachers Retirement System increased its position in Glaukos by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after purchasing an additional 200 shares during the period. Finally, KBC Group NV boosted its stake in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

About Glaukos

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.