Glaukos (NYSE:GKOS) Given New $110.00 Price Target at Wells Fargo & Company

Glaukos (NYSE:GKOS) had its target price hoisted by Wells Fargo & Company from $103.00 to $110.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently weighed in on GKOS. Truist Financial reaffirmed a buy rating and set a $110.00 target price on shares of Glaukos in a research note on Monday, April 8th. Citigroup increased their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a research report on Monday, March 25th. Needham & Company LLC boosted their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a buy rating in a report on Thursday. Stifel Nicolaus reiterated a buy rating and set a $110.00 price objective on shares of Glaukos in a report on Wednesday, April 3rd. Finally, Mizuho boosted their target price on Glaukos from $85.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $107.00.

Glaukos Stock Up 1.4 %

Shares of GKOS stock traded up $1.48 during trading hours on Thursday, reaching $106.51. 507,497 shares of the stock traded hands, compared to its average volume of 497,055. The company has a quick ratio of 4.78, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. Glaukos has a 1-year low of $49.19 and a 1-year high of $108.22. The business has a fifty day moving average price of $93.33 and a 200 day moving average price of $82.87.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. Glaukos’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.59) earnings per share. As a group, equities research analysts predict that Glaukos will post -2.16 earnings per share for the current year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the sale, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at approximately $10,232,367.15. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock valued at $21,965,491 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new position in shares of Glaukos in the fourth quarter valued at $46,000. GAMMA Investing LLC bought a new stake in Glaukos in the 4th quarter valued at $55,000. Quadrant Capital Group LLC raised its stake in shares of Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Glaukos by 17.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after acquiring an additional 270 shares during the period. Finally, Caldwell Sutter Capital Inc. boosted its position in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after acquiring an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.