Truist Financial Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price objective upped by Truist Financial from $160.00 to $180.00 in a research note published on Thursday morning, MarketBeat reports. They currently have a buy rating on the medical instruments supplier’s stock.

GKOS has been the topic of several other research reports. HC Wainwright assumed coverage on shares of Glaukos in a report on Monday, July 6th. They issued a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Glaukos in a report on Monday. Needham & Company LLC increased their price objective on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.46.

Glaukos Stock Performance

Shares of GKOS opened at $155.41 on Thursday. The stock has a 50-day moving average of $133.91 and a two-hundred day moving average of $121.79. Glaukos has a one year low of $73.16 and a one year high of $161.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The stock has a market cap of $9.13 billion, a P/E ratio of -47.38 and a beta of 0.75.

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

Insider Activity

In other news, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer directly owned 43,681 shares in the company, valued at $6,115,340. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This trade represents a 21.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,273 shares of company stock worth $8,882,003 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares in the last quarter. Primecap Management Co. CA grew its stake in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the period. Goldman Sachs Group Inc. grew its stake in Glaukos by 209.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after acquiring an additional 913,458 shares during the period. Millennium Management LLC increased its holdings in Glaukos by 75.3% in the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock worth $181,751,000 after acquiring an additional 691,289 shares in the last quarter. Finally, UBS Group AG increased its holdings in Glaukos by 316.0% in the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock worth $98,677,000 after acquiring an additional 663,849 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

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.