Brokerages Set Glaukos Co. (NYSE:GKOS) PT at $163.25

Glaukos Co. (NYSE:GKOS) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $163.25.

GKOS has been the topic of several recent analyst reports. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. Stephens upgraded Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. Needham & Company LLC increased their price target on Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, BTIG Research lifted their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Insiders Place Their Bets

In other news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,744 shares of company stock valued at $2,504,131 over the last 90 days. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after buying an additional 1,630,270 shares during the period. William Blair Investment Management LLC bought a new position in Glaukos during the fourth quarter worth $121,390,000. Alliancebernstein L.P. increased its position in Glaukos by 1,235.4% during the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after acquiring an additional 755,035 shares during the period. Norges Bank bought a new position in shares of Glaukos during the 4th quarter worth about $84,490,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Glaukos by 47.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after purchasing an additional 207,338 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Up 6.0 %

Shares of NYSE GKOS opened at $102.43 on Monday. 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 firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of -35.69 and a beta of 0.99. The stock has a 50 day moving average price of $141.84 and a 200 day moving average price of $137.88. Glaukos has a 52-week low of $84.08 and a 52-week high of $163.71.

Glaukos (NYSE:GKOS) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. Sell-side analysts expect that Glaukos will post -1.08 earnings per share for the current year.

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.