Glaukos Corporation (NYSE:GKOS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $154.8462.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. HC Wainwright started coverage on shares of Glaukos in a research note on Monday, July 6th. They set a “buy” rating and a $168.00 target price on the stock. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Citigroup lifted their price target on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus upped their price objective on shares of Glaukos from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 17th.

Glaukos Trading Down 0.2%

Shares of GKOS stock opened at $152.81 on Thursday. The company has a market cap of $8.98 billion, a P/E ratio of -46.59 and a beta of 0.75. The stock has a 50 day simple moving average of $135.45 and a two-hundred day simple moving average of $122.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $161.53.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million for 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 was up 41.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.22) earnings per share. Research analysts forecast that Glaukos will post -0.57 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction dated 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 directly owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leana Wen sold 1,700 shares of the business’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 directly owned 19,739 shares of the company’s stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,273 shares of company stock valued at $8,882,003. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently modified their holdings of the company. First Horizon Corp grew its position in Glaukos by 1,715.4% in the 4th 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 acquired a new position in Glaukos during the fourth quarter worth $28,000. Larson Financial Group LLC raised its holdings in Glaukos by 62.0% during the fourth 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 last quarter. Parallel Advisors LLC lifted its stake in shares of Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Glaukos by 111.4% in the fourth 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. 99.04% of the stock is owned by institutional investors and hedge funds.

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.