Glaukos (NYSE:GKOS) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Glaukos (NYSE:GKOS – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday. BTIG Research upped their price target on Glaukos from $164.00 to $193.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $195.00 price target (up from $165.00) on shares of Glaukos in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Finally, UBS Group assumed coverage on Glaukos in a research note on Tuesday, July 28th. They set a “neutral” rating and a $150.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.33.

View Our Latest Analysis on Glaukos

Glaukos Stock Up 2.5%

Shares of GKOS opened at $170.90 on Friday. The firm has a market cap of $10.08 billion, a P/E ratio of -52.59 and a beta of 0.78. Glaukos has a 12-month low of $73.16 and a 12-month high of $184.00. The company’s 50-day moving average price is $139.11 and its 200 day moving average price is $125.60. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS – Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Glaukos’s revenue for the quarter was up 49.6% compared to the same quarter last year. On average, sell-side analysts forecast that Glaukos will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other Glaukos news, Director Leana Wen sold 525 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the transaction, the director owned 21,092 shares of the company’s stock, valued at $3,535,651.96. This trade represents a 2.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the sale, the chief financial officer directly owned 43,906 shares in the company, valued at $7,024,960. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,525 shares of company stock worth $6,116,806 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Several large investors have recently bought and sold shares of the stock. First Horizon Corp raised its position in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Glaukos during the 4th quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC increased its stake in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

(Get Free Report)

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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