Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Glaukos (NYSE:GKOS) had its target price upped by analysts at Stifel Nicolaus from $170.00 to $175.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 11.48% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Truist Financial lifted their target price on shares of Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC boosted their price target on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Piper Sandler restated an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, July 1st. Finally, HC Wainwright assumed coverage on Glaukos in a research report on Monday, July 6th. They set a “buy” rating and a $168.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Price Performance

Shares of GKOS stock opened at $156.97 on Friday. The business’s fifty day moving average is $134.39 and its 200 day moving average is $122.04. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of -47.86 and a beta of 0.75. Glaukos has a twelve month low of $73.16 and a twelve month high of $161.53.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share. Research analysts expect that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Leana Wen sold 1,700 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the sale, the director owned 19,739 shares in the company, valued at $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 is available through the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. Following the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,770,555. This trade represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 61,273 shares of company stock worth $8,882,003. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Wealth Alliance LLC boosted its holdings in shares of Glaukos by 4.5% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock valued at $247,000 after acquiring an additional 98 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Glaukos by 9.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC raised its holdings in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. CWM LLC raised its holdings in shares of Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Glaukos by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after purchasing an additional 144 shares during the period. 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.