Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Truist Financial Analyst Says

Glaukos (NYSE:GKOS) had its price objective upped by Truist Financial from $152.00 to $185.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. UBS Group began coverage on Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.92.

Glaukos Trading Up 0.6 %

Shares of GKOS traded up $0.86 during trading hours on Wednesday, hitting $146.00. The company had a trading volume of 36,078 shares, compared to its average volume of 572,368. The firm has a market cap of $8.05 billion, a P/E ratio of -48.34 and a beta of 1.03. Glaukos has a 52-week low of $74.75 and a 52-week high of $147.65. The stock’s 50 day moving average price is $137.26 and its 200 day moving average price is $127.64. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.50) earnings per share. On average, research analysts predict that Glaukos will post -1.89 EPS for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in GKOS. Wellington Management Group LLP grew its stake in shares of Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $67,460,000. Primecap Management Co. CA increased its stake in shares of Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after acquiring an additional 372,180 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after acquiring an additional 246,322 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after purchasing an additional 207,338 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.