Stephens Cuts Glaukos (NYSE:GKOS) Price Target to $115.00

Glaukos (NYSE:GKOS) had its target price dropped by Stephens from $140.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Stephens’ target price points to a potential upside of 31.28% from the company’s current price.

Several other research firms have also recently issued reports on GKOS. Truist Financial reaffirmed a “buy” rating and issued a $135.00 price target (down from $140.00) on shares of Glaukos in a report on Thursday. Needham & Company LLC cut their target price on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their price target on Glaukos from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler cut their price objective on Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Mizuho decreased their target price on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Glaukos Price Performance

GKOS opened at $87.60 on Friday. Glaukos has a twelve month low of $77.10 and a twelve month high of $163.71. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -30.52 and a beta of 0.88. The company has a fifty day simple moving average of $97.60 and a 200 day simple moving average of $128.82.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the prior year, the business posted ($0.70) earnings per share. Glaukos’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities research analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Glaukos in the 4th quarter worth approximately $3,679,000. Rhumbline Advisers grew its position in Glaukos by 0.3% in the fourth quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier’s stock worth $21,260,000 after buying an additional 403 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Glaukos in the fourth quarter valued at $43,000. US Bancorp DE lifted its position in shares of Glaukos by 8.3% during the 4th quarter. US Bancorp DE now owns 6,099 shares of the medical instruments supplier’s stock valued at $914,000 after acquiring an additional 470 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Glaukos during the 4th quarter worth $227,000. 99.04% of the stock is currently owned by institutional investors.

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.