JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Glaukos (NYSE:GKOS) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $130.00 to $145.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 11.97% from the stock’s current price.

GKOS has been the subject of several other research reports. Truist Financial raised their price objective on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus increased their target price on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and boosted their target price for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Finally, BTIG Research raised their price target on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Trading Down 1.4 %

NYSE GKOS traded down $1.88 during trading hours on Tuesday, hitting $129.50. 761,733 shares of the company were exchanged, compared to its average volume of 571,756. The stock has a market cap of $7.12 billion, a PE ratio of -39.72 and a beta of 1.02. Glaukos has a 52 week low of $59.22 and a 52 week high of $139.51. The stock has a 50-day moving average price of $129.64 and a 200 day moving average price of $119.98. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. Analysts forecast 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 company’s stock in a transaction 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 completion of the sale, the director now directly owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $13,216,581.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,525 shares of company stock worth $5,142,029. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in Glaukos in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 486 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos during the second quarter worth $187,000. Procyon Advisors LLC purchased a new stake in shares of Glaukos during the third quarter valued at $210,000. Finally, Brighton Jones LLC acquired a new position in shares of Glaukos in the 2nd quarter valued at $208,000. 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.