Wells Fargo & Company Boosts Glaukos (NYSE:GKOS) Price Target to $135.00

Glaukos (NYSE:GKOS) had its price target lifted by investment analysts at Wells Fargo & Company from $120.00 to $135.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.21% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup lowered Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. Needham & Company LLC lifted their price target on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $145.00 price target (up from $141.00) on shares of Glaukos in a report on Thursday. Finally, Morgan Stanley upped their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.55.

Glaukos Stock Performance

Shares of NYSE GKOS traded down $6.70 during midday trading on Thursday, hitting $110.47. 289,773 shares of the stock traded hands, compared to its average volume of 591,867. The firm has a 50-day moving average of $116.27 and a two-hundred day moving average of $102.52. The firm has a market capitalization of $5.56 billion, a P/E ratio of -39.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. Glaukos has a one year low of $59.22 and a one year high of $126.96.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). The firm had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.55) EPS. On average, equities analysts forecast that Glaukos will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 353 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the completion of the transaction, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 353 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $110.51, for a total transaction of $39,010.03. Following the sale, the chief financial officer now directly owns 51,647 shares in the company, valued at $5,707,509.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,943 shares of company stock worth $2,147,190. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently made changes to their positions in the business. National Bank of Canada FI acquired a new stake in shares of Glaukos during the fourth quarter worth approximately $46,000. GAMMA Investing LLC acquired a new stake in shares of Glaukos during the fourth quarter worth approximately $55,000. Quadrant Capital Group LLC boosted its holdings in shares of Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. raised its position in shares of Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Glaukos in the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.