Needham & Company LLC Increases Glaukos (NYSE:GKOS) Price Target to $137.00

Glaukos (NYSE:GKOS) had its target price boosted by stock analysts at Needham & Company LLC from $131.00 to $137.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective suggests a potential upside of 16.91% from the stock’s current price.

A number of other analysts have also recently weighed in on GKOS. Morgan Stanley raised their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Mizuho raised their price target on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Truist Financial raised their price target on shares of Glaukos from $125.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a report on Saturday, July 13th. Finally, Stifel Nicolaus raised their price target on shares of Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.82.

Glaukos Trading Down 0.6 %

NYSE GKOS opened at $117.18 on Thursday. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. Glaukos has a 12 month low of $59.22 and a 12 month high of $126.96. The company’s 50-day moving average price is $116.27 and its 200-day moving average price is $102.52. The stock has a market cap of $5.90 billion, a PE ratio of -40.69 and a beta of 1.06.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same quarter in the previous year, the company earned ($0.59) earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Glaukos will post -2.25 earnings per share for the current year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Joseph E. Gilliam sold 2,500 shares of Glaukos stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,943 shares of company stock valued at $2,147,190. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Glaukos by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after acquiring an additional 72,159 shares during the period. Brown Capital Management LLC boosted its stake in Glaukos by 3.4% during the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after purchasing an additional 89,420 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after purchasing an additional 31,213 shares during the last quarter. Primecap Management Co. CA boosted its stake in Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after purchasing an additional 151,415 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Glaukos by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 513,029 shares of the medical instruments supplier’s stock worth $40,781,000 after purchasing an additional 1,867 shares during the last quarter. 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.