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

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

GKOS has been the topic of several other research reports. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Needham & Company LLC increased their price objective on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised their price objective on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. BTIG Research boosted their target price on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus raised their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $134.55.

Glaukos Trading Down 2.8 %

Shares of GKOS stock opened at $127.69 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The stock has a fifty day simple moving average of $129.48 and a two-hundred day simple moving average of $120.20. The firm has a market capitalization of $7.02 billion, a PE ratio of -39.17 and a beta of 1.02. Glaukos has a 52-week low of $59.22 and a 52-week high of $139.51.

Glaukos (NYSE:GKOS) last released its earnings results 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. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter last year, the business posted ($0.50) earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. On average, analysts predict that Glaukos will post -2.16 EPS for the current fiscal year.

Insider Transactions at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $14,198,425.93. This trade represents 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 this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,525 shares of company stock worth $5,142,029. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Large investors have recently bought and sold shares of the business. Values First Advisors Inc. purchased a new stake in Glaukos in the third quarter worth $25,000. GAMMA Investing LLC increased its stake in Glaukos by 68.8% in the 2nd 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 period. Fifth Third Wealth Advisors LLC bought a new stake in Glaukos during the 2nd quarter valued at about $187,000. Brighton Jones LLC bought a new stake in Glaukos during the 2nd quarter valued at about $208,000. Finally, Procyon Advisors LLC purchased a new stake in Glaukos in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors 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.