Glaukos (NYSE:GKOS) Rating Increased to Buy at Jefferies Financial Group

Glaukos (NYSE:GKOS) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has a $125.00 target price on the medical instruments supplier’s stock, up from their prior target price of $84.00. Jefferies Financial Group’s target price points to a potential upside of 15.82% from the company’s previous close.

A number of other brokerages have also commented on GKOS. JPMorgan Chase & Co. lifted their price objective on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho boosted their target price on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Truist Financial restated a “buy” rating and set a $125.00 target price (up from $120.00) on shares of Glaukos in a research report on Thursday, May 2nd. Finally, Citigroup boosted their target price on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.64.

Glaukos Stock Up 2.8 %

Shares of NYSE GKOS opened at $107.93 on Monday. The business has a fifty day moving average of $93.94 and a two-hundred day moving average of $83.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. Glaukos has a 52-week low of $54.38 and a 52-week high of $110.73. The stock has a market cap of $5.42 billion, a PE ratio of -37.48 and a beta of 1.08.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) earnings per share. As a group, equities research analysts expect that Glaukos will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total value of $441,250.00. Following the sale, the director now directly owns 30,620 shares in the company, valued at $2,702,215. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Glaukos news, Director Mark J. Foley sold 4,560 shares of Glaukos stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the sale, the director now directly owns 33,220 shares in the company, valued at approximately $3,085,141.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the sale, the director now directly owns 30,620 shares in the company, valued at $2,702,215. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,349 shares of company stock valued at $22,226,336. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Glaukos by 45.5% during the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after purchasing an additional 453,756 shares during the last quarter. Norges Bank acquired a new position in Glaukos during the fourth quarter worth $28,807,000. Rhenman & Partners Asset Management AB raised its position in Glaukos by 236.8% during the third quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock worth $24,080,000 after acquiring an additional 225,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Glaukos in the fourth quarter valued at $15,065,000. Finally, Primecap Management Co. CA grew its position in shares of Glaukos by 23.7% in the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after acquiring an additional 151,415 shares during the period. 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.