Wells Fargo & Company Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price target raised by Wells Fargo & Company from $135.00 to $145.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other brokerages also recently weighed in on GKOS. Truist Financial boosted their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus boosted their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Needham & Company LLC increased their price target on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Glaukos Price Performance

Shares of NYSE GKOS traded down $0.60 during trading on Tuesday, hitting $138.73. 63,590 shares of the company were exchanged, compared to its average volume of 577,975. The firm’s fifty day moving average price is $129.72 and its 200 day moving average price is $120.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -46.14 and a beta of 1.02. Glaukos has a 1 year low of $59.22 and a 1 year high of $143.24.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 20.28% and a negative net margin of 42.43%. Glaukos’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.50) earnings per share. On average, sell-side analysts expect that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the transaction, the director now directly owns 34,076 shares of the company’s stock, valued at $4,291,190.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,525 shares of company stock valued at $2,142,029. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Glaukos during the 2nd quarter valued at $6,832,000. Natixis purchased a new stake in shares of Glaukos during the 1st quarter worth about $614,000. Vanguard Group Inc. raised its holdings in Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Glaukos in the first quarter valued at approximately $913,000. Finally, Duality Advisers LP bought a new position in shares of Glaukos during the 1st quarter worth about $3,476,000. 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.