Stifel Nicolaus Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Glaukos (NYSE:GKOS) had its price objective hoisted by analysts at Stifel Nicolaus from $153.00 to $175.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective points to a potential upside of 16.71% from the company’s current price.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. upped 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. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Truist Financial raised their price objective on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. UBS Group began coverage on shares of Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 target price for the company. Finally, Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research note on Monday, December 2nd. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $149.94 on Tuesday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $141.29 and its 200-day moving average price is $130.19. Glaukos has a 52-week low of $74.75 and a 52-week high of $153.50. The company has a market cap of $8.27 billion, a PE ratio of -49.65 and a beta of 1.03.

Glaukos (NYSE:GKOS) last issued 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. The company 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 quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) earnings per share. As a group, analysts anticipate that Glaukos will post -1.89 EPS for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction 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 sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,603 shares of company stock valued at $2,605,678 over the last ninety days. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Large investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of Glaukos during the 3rd quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd lifted its position in Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. KBC Group NV grew its stake in shares of Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of Glaukos in the 2nd quarter worth about $208,000. Finally, EWA LLC bought a new stake in shares of Glaukos in the 3rd quarter worth about $209,000. Institutional investors own 99.04% of the company’s stock.

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.