Glaukos (NYSE:GKOS) Stock Price Expected to Rise, BTIG Research Analyst Says

Glaukos (NYSE:GKOS) had its price objective boosted by research analysts at BTIG Research from $140.00 to $149.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price points to a potential upside of 4.43% from the stock’s current price.

A number of other research analysts have also weighed in on GKOS. Truist Financial raised their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler set a $140.00 price objective on Glaukos in a research report on Thursday, October 17th. Stifel Nicolaus raised their price objective on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC increased their target price on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.45.

Glaukos Stock Up 1.4 %

Shares of NYSE:GKOS opened at $142.68 on Tuesday. Glaukos has a 52-week low of $59.58 and a 52-week high of $146.86. The firm has a market capitalization of $7.87 billion, a P/E ratio of -46.60 and a beta of 1.02. The stock has a 50 day moving average price of $133.15 and a 200-day moving average price of $124.27. 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 data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter last year, the company earned ($0.50) EPS. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities research analysts anticipate that Glaukos will post -1.96 EPS for the current fiscal year.

Insider Transactions at Glaukos

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

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently bought and sold shares of GKOS. Values First Advisors Inc. purchased a new position in Glaukos during the third quarter valued at $25,000. Harvest Fund Management Co. Ltd raised its holdings in Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 860 shares during the period. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 486 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Glaukos during the second quarter valued at about $187,000. Finally, KBC Group NV raised its holdings in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after acquiring an additional 201 shares during the period. 99.04% of the stock is currently 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.