Glaukos (NYSE:GKOS) PT Raised to $100.00

Glaukos (NYSE:GKOS) had its price target boosted by equities research analysts at Mizuho from $85.00 to $100.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Mizuho’s price target would suggest a potential upside of 1.80% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted their price objective on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Stifel Nicolaus reiterated a “buy” rating and set a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. Wells Fargo & Company raised their price objective on shares of Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC boosted their target price on shares of Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upgraded Glaukos from a “neutral” rating to an “overweight” rating and raised their price target for the company from $66.00 to $91.00 in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average target price of $99.80.

Glaukos Price Performance

GKOS opened at $98.23 on Thursday. Glaukos has a 12-month low of $45.38 and a 12-month high of $102.33. The stock’s 50-day moving average price is $91.66 and its 200 day moving average price is $79.99. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of -35.33 and a beta of 1.08. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The business had revenue of $82.40 million during the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.53) EPS. As a group, sell-side analysts expect that Glaukos will post -2.18 earnings per share for the current year.

Insider Activity

In related news, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the transaction, the chief operating officer now owns 101,845 shares in the company, valued at approximately $10,232,367.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Alex R. Thurman sold 434 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the sale, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.47, for a total value of $6,008,206.47. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,232,367.15. The disclosure for this sale can be found here. In the last three months, insiders sold 248,354 shares of company stock valued at $23,395,459. Insiders own 7.80% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds have recently added to or reduced their stakes in GKOS. Nomura Holdings Inc. lifted its stake in shares of Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after acquiring an additional 7,146 shares during the period. Fisher Asset Management LLC purchased a new position in Glaukos during the fourth quarter worth about $216,000. Goldman Sachs Group Inc. lifted its position in Glaukos by 17.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 126,642 shares of the medical instruments supplier’s stock valued at $10,067,000 after purchasing an additional 18,639 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Glaukos by 1,098.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,924 shares of the medical instruments supplier’s stock valued at $24,955,000 after purchasing an additional 287,736 shares during the period. Finally, Systematic Portfolios LLC purchased a new stake in Glaukos in the 4th quarter valued at approximately $258,000. 99.04% of the stock is owned by institutional investors and hedge funds.

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.