Stifel Nicolaus Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its target price lifted by Stifel Nicolaus from $145.00 to $153.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler set a $140.00 price target on shares of Glaukos in a research report on Thursday, October 17th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.18.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $138.27 on Monday. The company’s 50 day moving average price is $134.76 and its two-hundred day moving average price is $125.44. Glaukos has a 12-month low of $59.58 and a 12-month high of $146.86. The firm has a market cap of $7.62 billion, a PE ratio of -45.78 and a beta of 1.03. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The business’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts predict that Glaukos will post -1.91 earnings per share for the current year.

Insider Activity

In other news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of hedge funds have recently bought and sold shares of GKOS. Wellington Management Group LLP grew its holdings in Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the period. State Street Corp grew its holdings in Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after purchasing an additional 98,109 shares during the period. Fred Alger Management LLC grew its holdings in Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock worth $151,337,000 after purchasing an additional 47,308 shares during the period. Primecap Management Co. CA grew its holdings in Glaukos by 2.0% in the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock worth $162,223,000 after purchasing an additional 24,370 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Glaukos by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock worth $152,722,000 after purchasing an additional 66,134 shares during the period. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.