Glaukos Corp. (GKOS) Rating Increased to Strong-Buy at Zacks Investment Research
Glaukos Corp. (NYSE:GKOS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The firm presently has a $44.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 15.27% from the company’s current price.
According to Zacks, “Glaukos Corporation is an ophthalmic medical technology company. The Company develops, manufactures and markets medical devices for the treatment of glaucoma. Its product pipeline consists of iStent Inject, the iStent Supra and iDose. The company operates primarily in United States, Germany, Europe, the Asia Pacific, Canada and internationally. Glaukos Corporation is headquartered in Laguna Hills, California. “
A number of other equities research analysts have also recently commented on the stock. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Glaukos Corp. in a report on Sunday, July 17th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Glaukos Corp. in a report on Tuesday, September 27th. Cantor Fitzgerald lifted their price target on shares of Glaukos Corp. from $35.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Finally, Roth Capital lifted their price target on shares of Glaukos Corp. from $36.50 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Glaukos Corp. presently has an average rating of “Buy” and a consensus target price of $39.20.
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Shares of Glaukos Corp. (NYSE:GKOS) traded down 1.32% during midday trading on Wednesday, hitting $38.17. The company’s stock had a trading volume of 527,690 shares. Glaukos Corp. has a 52-week low of $14.25 and a 52-week high of $39.82. The firm’s market cap is $1.26 billion. The stock’s 50 day moving average is $34.56 and its 200-day moving average is $27.90.
Glaukos Corp. (NYSE:GKOS) last announced its earnings results on Monday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. Glaukos Corp. had a negative return on equity of 1.14% and a negative net margin of 1.23%. The firm had revenue of $28.60 million for the quarter, compared to the consensus estimate of $24.45 million. During the same quarter in the previous year, the business earned ($1.30) EPS. The company’s revenue was up 60.7% compared to the same quarter last year. Equities analysts predict that Glaukos Corp. will post $0.11 EPS for the current fiscal year.
In other Glaukos Corp. news, Director Jonathan Silverstein sold 292,938 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $33.69, for a total transaction of $9,869,081.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas William Burns sold 162,254 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $30.07, for a total transaction of $4,878,977.78. Following the sale, the chief executive officer now directly owns 1,388 shares in the company, valued at approximately $41,737.16. The disclosure for this sale can be found here. Company insiders own 36.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Glaukos Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 41,932 shares of the company’s stock worth $706,000 after buying an additional 405 shares during the last quarter. TFS Capital LLC boosted its stake in shares of Glaukos Corp. by 7.3% in the second quarter. TFS Capital LLC now owns 17,227 shares of the company’s stock worth $502,000 after buying an additional 1,172 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Glaukos Corp. by 116.3% in the second quarter. BlackRock Group LTD now owns 3,802 shares of the company’s stock worth $111,000 after buying an additional 2,044 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Glaukos Corp. by 938.2% in the second quarter. BlackRock Inc. now owns 3,748 shares of the company’s stock worth $109,000 after buying an additional 3,387 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Glaukos Corp. by 142.8% in the second quarter. American International Group Inc. now owns 9,623 shares of the company’s stock worth $281,000 after buying an additional 5,660 shares during the last quarter. 71.91% of the stock is currently owned by institutional investors and hedge funds.
Glaukos Corp. Company Profile
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.
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