Glaukos Co. (NYSE:GKOS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Glaukos Co. (NYSE:GKOS) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $147.75.

GKOS has been the topic of a number of analyst reports. Truist Financial lifted their price target on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. UBS Group initiated coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. Morgan Stanley downgraded shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. Finally, StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st.

Glaukos Trading Down 0.4 %

Shares of GKOS opened at $160.50 on Friday. Glaukos has a fifty-two week low of $83.90 and a fifty-two week high of $163.71. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of -53.15 and a beta of 1.04. The firm has a 50 day moving average price of $147.76 and a 200-day moving average price of $134.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last posted its quarterly 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 net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the firm posted ($0.50) earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities research analysts forecast that Glaukos will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of Glaukos by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 67,936 shares of the medical instruments supplier’s stock worth $8,040,000 after buying an additional 2,341 shares in the last quarter. Wealth Alliance bought a new stake in Glaukos in the 2nd quarter worth about $246,000. Intech Investment Management LLC bought a new position in Glaukos during the 2nd quarter valued at about $1,346,000. Brighton Jones LLC purchased a new stake in shares of Glaukos during the 2nd quarter valued at about $208,000. Finally, Sei Investments Co. grew its stake in shares of Glaukos by 51.6% in the second quarter. Sei Investments Co. now owns 108,546 shares of the medical instruments supplier’s stock worth $12,847,000 after acquiring an additional 36,933 shares during the period. 99.04% of the stock is 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.