Glaukos (NYSE:GKOS) Receives “Overweight” Rating from Piper Sandler

Glaukos (NYSE:GKOS)‘s stock had its “overweight” rating reissued by equities researchers at Piper Sandler in a report released on Monday,Benzinga reports. They currently have a $180.00 target price on the medical instruments supplier’s stock, up from their prior target price of $140.00. Piper Sandler’s price objective points to a potential upside of 11.99% from the stock’s previous close.

Several other equities research analysts also recently commented on GKOS. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus lifted their target price on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Monday, December 2nd. Finally, Stephens raised Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $151.08.

Glaukos Stock Performance

NYSE:GKOS opened at $160.73 on Monday. The firm has a market capitalization of $8.86 billion, a PE ratio of -53.11 and a beta of 1.04. 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 has a 12-month low of $83.90 and a 12-month high of $163.71. The firm has a 50-day moving average price of $147.76 and a 200 day moving average price of $134.95.

Glaukos (NYSE:GKOS) last issued 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. The business had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.50) EPS. Research analysts anticipate that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold 17,603 shares of company stock valued at $2,605,678 over the last 90 days. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after acquiring an additional 1,630,270 shares during the last quarter. State Street Corp increased its stake 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 valued at $254,626,000 after purchasing an additional 98,109 shares in the last quarter. Primecap Management Co. CA raised 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. Geode Capital Management LLC boosted its position in shares of Glaukos by 6.0% during 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 in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Glaukos by 21.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock valued at $87,776,000 after buying an additional 119,527 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.