Glaukos Corporation (NYSE:GKOS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Glaukos Corporation (NYSE:GKOS) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $146.1667.

A number of equities analysts have commented on GKOS shares. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Citigroup lifted their price objective on shares of Glaukos from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Needham & Company LLC lifted their price objective on shares of Glaukos from $127.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their price objective 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.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the completion of the transaction, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This trade represents a 21.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction 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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 45,930 shares of company stock valued at $6,321,363. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares during the period. Wellington Management Group LLP boosted its stake in shares of Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after purchasing an additional 336,266 shares during the period. Primecap Management Co. CA boosted its stake in shares of Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after purchasing an additional 1,123,140 shares during the period. State Street Corp boosted its stake in shares of Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after purchasing an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Glaukos by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after purchasing an additional 68,497 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Performance

GKOS opened at $111.13 on Wednesday. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of -33.88 and a beta of 0.82. The company has a fifty day moving average of $121.34 and a 200 day moving average of $114.55. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $148.11. 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 (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. Glaukos’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period last year, the company posted ($0.22) earnings per share. As a group, sell-side analysts forecast that Glaukos will post -0.57 earnings per share for the current fiscal year.

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.