Glaukos (NYSE:GKOS) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Glaukos (NYSE:GKOS) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Other equities research analysts also recently issued research reports about the stock. Truist Financial reaffirmed a buy rating and set a $145.00 price target (up previously from $141.00) on shares of Glaukos in a research note on Thursday. Piper Sandler boosted their price objective on shares of Glaukos from $110.00 to $140.00 and gave the company an overweight rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Glaukos from $120.00 to $135.00 and gave the stock an overweight rating in a report on Thursday. Mizuho upped their price target on shares of Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus upped their price target on shares of Glaukos from $110.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Glaukos has a consensus rating of Moderate Buy and an average target price of $127.73.

Glaukos Price Performance

Glaukos stock opened at $116.14 on Friday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -40.33 and a beta of 1.05. The firm’s fifty day moving average is $116.81 and its 200 day moving average is $102.92. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. Glaukos has a 52-week low of $59.22 and a 52-week 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 (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.55) earnings per share. Sell-side analysts forecast that Glaukos will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction dated 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 $5,707,509.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Glaukos news, COO Joseph E. Gilliam sold 2,395 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $110.56, for a total transaction of $264,791.20. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $11,259,983.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alex R. Thurman sold 353 shares of the stock in a transaction dated Friday, May 10th. The shares were 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 of the company’s stock, valued at $5,707,509.97. The disclosure for this sale can be found here. Insiders have sold a total of 18,943 shares of company stock worth $2,147,190 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of GKOS. National Bank of Canada FI purchased a new position in Glaukos during the 4th quarter worth approximately $46,000. GAMMA Investing LLC purchased a new position in Glaukos during the 4th quarter worth approximately $55,000. Quadrant Capital Group LLC raised its position in Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. raised its position in Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 1,465 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $187,000. 99.04% of the stock is 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.