Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Glaukos (NYSE:GKOS) had its target price raised by Needham & Company LLC from $149.00 to $176.00 in a report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts also recently commented on GKOS. Stephens raised Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up previously from $140.00) on shares of Glaukos in a report on Monday, January 27th. BTIG Research raised their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price target on Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Truist Financial raised their price target on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Price Performance

Glaukos stock opened at $126.03 on Friday. Glaukos has a one year low of $83.90 and a one year high of $163.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business has a fifty day moving average of $152.75 and a two-hundred day moving average of $139.25. The company has a market cap of $6.95 billion, a P/E ratio of -41.73 and a beta of 1.04.

Glaukos (NYSE:GKOS) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. As a group, analysts predict that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $15,310,024.65. The trade was a 3.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of Glaukos stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,744 shares of company stock worth $2,792,151. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in Glaukos in the 3rd quarter valued at about $25,000. IFP Advisors Inc purchased a new stake in Glaukos in the 4th quarter valued at about $43,000. Asset Planning Inc purchased a new stake in Glaukos in the 4th quarter valued at about $90,000. CoreCap Advisors LLC grew its holdings in Glaukos by 36.4% in the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock valued at $112,000 after buying an additional 200 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in Glaukos in the 4th quarter valued at about $125,000. Hedge funds and other 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.