Glaukos (NYSE:GKOS) PT Raised to $113.00 at Needham & Company LLC

Glaukos (NYSE:GKOS) had its price objective boosted by investment analysts at Needham & Company LLC from $108.00 to $113.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price indicates a potential upside of 6.09% from the company’s current price.

A number of other equities analysts have also commented on the company. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Monday, April 8th. Mizuho raised their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Glaukos Stock Performance

Shares of NYSE GKOS traded up $1.48 during trading on Thursday, reaching $106.51. 507,497 shares of the stock traded hands, compared to its average volume of 497,055. The company has a 50-day moving average of $93.33 and a 200-day moving average of $82.87. Glaukos has a 52-week low of $49.19 and a 52-week high of $108.22. The company has a quick ratio of 4.78, a current ratio of 5.38 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. Glaukos’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.59) EPS. Research analysts anticipate that Glaukos will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Alex R. Thurman sold 1,372 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now directly owns 52,532 shares in the company, valued at approximately $5,281,567.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 59,801 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,232,367.15. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock valued at $21,965,491 over the last 90 days. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Glaukos

Large investors have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in Glaukos by 4.1% in the fourth quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock worth $229,000 after buying an additional 113 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Glaukos by 1.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock worth $902,000 after acquiring an additional 150 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Glaukos by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock valued at $1,969,000 after purchasing an additional 163 shares during the period. Arizona State Retirement System boosted its position in shares of Glaukos by 2.1% during the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock valued at $981,000 after purchasing an additional 264 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after purchasing an additional 270 shares during the period. 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.