Glaukos (NYSE:GKOS) Price Target Raised to $137.00

Glaukos (NYSE:GKOS) had its price objective upped by Needham & Company LLC from $131.00 to $137.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Other equities research analysts have also issued research reports about the stock. Citigroup lowered shares of Glaukos from a buy rating to a neutral rating and upped their price target for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. StockNews.com lowered shares of Glaukos from a hold rating to a sell rating in a research report on Saturday, July 13th. Mizuho upped their price target on shares of Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Jefferies Financial Group raised shares of Glaukos from a hold rating to a buy rating and upped their price target for the company from $84.00 to $125.00 in a research report on Monday, May 6th. 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 research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $127.73.

Glaukos Stock Performance

GKOS traded down $4.22 during midday trading on Thursday, hitting $113.39. 181,863 shares of the company traded hands, compared to its average volume of 596,548. The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.71 billion, a PE ratio of -40.88 and a beta of 1.05. The company’s 50-day moving average is $116.67 and its 200 day moving average is $102.73. Glaukos has a 52 week low of $59.22 and a 52 week high of $126.96.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 24.96%. The business had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. During the same quarter in the prior year, the business earned ($0.55) EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, research analysts expect that Glaukos will post -2.25 EPS for the current year.

Insider Buying and Selling at Glaukos

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

Institutional Investors Weigh In On Glaukos

Institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. boosted its position in shares of Glaukos by 4.1% during the 4th quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock valued at $229,000 after acquiring an additional 113 shares during the last quarter. EFG Asset Management North America Corp. boosted its position in shares of Glaukos by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock valued at $3,216,000 after acquiring an additional 128 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Glaukos by 1.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock valued at $902,000 after acquiring an additional 150 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Glaukos by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock valued at $1,969,000 after acquiring an additional 163 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 329 shares during the last quarter. 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.