Glaukos (NYSE:GKOS) Upgraded at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC increased their target price on shares of Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.17.

Glaukos Trading Down 0.6%

Shares of NYSE GKOS opened at $147.49 on Friday. The business’s 50 day moving average is $129.31 and its two-hundred day moving average is $119.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. Glaukos has a 1-year low of $73.16 and a 1-year high of $148.62. The stock has a market capitalization of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75.

Glaukos (NYSE:GKOS) last issued 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. The business had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) earnings per share. As a group, research analysts expect that Glaukos will post -0.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leana Wen sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the transaction, the director owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares in the company, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,273 shares of company stock worth $5,832,003. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

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