Glaukos (NYSE:GKOS) Stock Rating Upgraded by Wall Street Zen

Glaukos (NYSE:GKOS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, William Blair restated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Glaukos Stock Performance

GKOS opened at $126.76 on Friday. The stock has a market cap of $7.44 billion, a PE ratio of -38.65 and a beta of 0.82. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. Glaukos has a 1 year low of $73.16 and a 1 year high of $148.11. The stock’s 50 day simple moving average is $124.00 and its 200-day simple moving average is $116.18.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the previous year, the business posted ($0.22) earnings per share. Glaukos’s quarterly revenue was up 41.2% on a year-over-year basis. Sell-side analysts forecast that Glaukos will post -0.57 EPS for the current year.

Insider Activity

In other Glaukos news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,115,340. The trade was a 18.63% 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. Over the last 90 days, insiders have sold 45,930 shares of company stock worth $6,321,363. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after acquiring an additional 2,329,608 shares in the last quarter. Wellington Management Group LLP increased its position in Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA increased its position in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares in the last quarter. State Street Corp increased its position in Glaukos by 0.9% in the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after acquiring an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after acquiring an additional 68,497 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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.