Glaukos (NYSE:GKOS) Price Target Raised to $153.00

Glaukos (NYSE:GKOS) had its price target hoisted by analysts at Wells Fargo & Company from $145.00 to $153.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.12% from the company’s previous close.

Several other research firms also recently commented on GKOS. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $162.00 in a report on Wednesday. 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 report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Truist Financial upped their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, UBS Group assumed coverage on Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $143.17.

Glaukos Stock Performance

Glaukos stock traded up $7.80 during mid-day trading on Wednesday, reaching $144.18. 114,137 shares of the company traded hands, compared to its average volume of 566,987. Glaukos has a fifty-two week low of $59.58 and a fifty-two week high of $146.86. The firm’s fifty day moving average is $135.53 and its two-hundred day moving average is $126.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of -47.78 and a beta of 1.03.

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 company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. On average, equities research analysts expect that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Institutional investors have recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in Glaukos during the third quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its stake in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 860 shares in the last quarter. KBC Group NV boosted its holdings in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares during the last quarter. EWA LLC purchased a new stake in shares of Glaukos in the third quarter valued at approximately $209,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos in the second quarter valued at approximately $187,000. 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.