Glaukos (NYSE:GKOS) Given New $176.00 Price Target at Needham & Company LLC

Glaukos (NYSE:GKOS) had its target price lifted by Needham & Company LLC from $149.00 to $176.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other research reports. Stifel Nicolaus boosted their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Monday, December 2nd. Truist Financial upped their target price on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

Glaukos Trading Down 19.9 %

Shares of GKOS stock opened at $126.03 on Friday. The company’s 50-day moving average price is $152.75 and its 200-day moving average price is $139.25. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -41.73 and a beta of 1.04. Glaukos has a twelve month low of $83.90 and a twelve month high of $163.71.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. As a group, equities analysts predict that Glaukos will post -1.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,744 shares of company stock worth $2,792,151 over the last three months. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several large investors have recently modified their holdings of GKOS. Values First Advisors Inc. acquired a new stake in shares of Glaukos in the third quarter valued at approximately $25,000. IFP Advisors Inc acquired a new stake in shares of Glaukos during the fourth quarter worth $43,000. Asset Planning Inc acquired a new stake in shares of Glaukos during the fourth quarter worth $90,000. CoreCap Advisors LLC lifted its holdings in shares of Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after purchasing an additional 200 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of 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 worth $117,000 after purchasing an additional 860 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

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.