Glaukos (NYSE:GKOS) Price Target Increased to $140.00 by Analysts at Piper Sandler

Glaukos (NYSE:GKOS) had its price objective upped by Piper Sandler from $110.00 to $140.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their price objective on Glaukos from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Monday, July 15th. Citigroup cut shares of Glaukos from a buy rating to a neutral rating and raised their target price for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Glaukos from $120.00 to $135.00 and gave the company an overweight rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $108.00 to $110.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group upgraded shares of Glaukos from a hold rating to a buy rating and boosted their price objective for the company from $84.00 to $125.00 in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $127.73.

Glaukos Price Performance

Shares of GKOS traded down $1.49 during midday trading on Thursday, reaching $114.54. The stock had a trading volume of 242,629 shares, compared to its average volume of 597,587. The company has a current ratio of 5.48, a quick ratio of 4.68 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -40.29 and a beta of 1.05. The company’s 50-day moving average is $116.81 and its 200 day moving average is $103.11. Glaukos has a 12-month low of $59.22 and a 12-month high of $126.96.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.52). The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. Glaukos’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.55) earnings per share. On average, equities analysts predict that Glaukos will post -2.25 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Marc Stapley sold 6,250 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $112.80, for a total transaction of $705,000.00. Following the sale, the director now directly owns 32,360 shares in the company, valued at approximately $3,650,208. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total transaction of $705,000.00. Following the transaction, the director now owns 32,360 shares in the company, valued at $3,650,208. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $112.00, for a total value of $560,000.00. Following the transaction, the director now directly owns 30,620 shares in the company, valued at $3,429,440. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,748 shares of company stock worth $2,125,679. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Glaukos during the 4th quarter worth approximately $28,807,000. Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 246,322 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Glaukos in the 4th quarter worth $15,065,000. Iron Triangle Partners LP increased its stake in Glaukos by 75.6% in the 1st quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after buying an additional 184,919 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in Glaukos by 23.7% during the fourth 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. 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.