StockNews.com Upgrades Glaukos (NYSE:GKOS) to Hold

StockNews.com upgraded shares of Glaukos (NYSE:GKOS) from a sell rating to a hold rating in a research report released on Monday.

Several other analysts have also weighed in on GKOS. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Needham & Company LLC upped 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. Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Truist Financial boosted their target price on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, BTIG Research increased their price target on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.45.

Glaukos Stock Performance

Shares of GKOS opened at $130.47 on Monday. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $129.00 and its two-hundred day simple moving average is $117.96. Glaukos has a 12 month low of $59.22 and a 12 month high of $136.60. The stock has a market capitalization of $6.57 billion, a P/E ratio of -45.30 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). The company had revenue of $95.70 million for 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%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.55) EPS. As a group, analysts predict that Glaukos will post -2.18 EPS for the current year.

Insider Activity

In related news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,250 shares of company stock worth $4,825,873 over the last 90 days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of Glaukos during the 2nd quarter valued at $67,460,000. Primecap Management Co. CA grew its position in Glaukos by 43.9% during the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after buying an additional 372,180 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Glaukos by 148.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after buying an additional 246,322 shares during the last quarter. Iron Triangle Partners LP raised its position in Glaukos by 75.6% in the first quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after acquiring an additional 184,919 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Glaukos by 24.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after acquiring an additional 155,653 shares during the period. 99.04% of the stock is currently owned by institutional investors.

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.