Needham & Company LLC Increases Glaukos (NYSE:GKOS) Price Target to $113.00

Glaukos (NYSE:GKOS) had its price objective raised by investment analysts at Needham & Company LLC from $108.00 to $113.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective indicates a potential upside of 6.09% from the stock’s previous close.

A number of other research analysts have also commented on GKOS. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Wells Fargo & Company raised their price objective on Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Truist Financial restated a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research report on Wednesday, April 3rd. Finally, Citigroup boosted their price target on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

Glaukos Stock Up 1.4 %

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

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

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total transaction of $480,350.00. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at $11,509,378.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total value of $423,487.20. Following the sale, the director now owns 33,220 shares in the company, valued at approximately $3,085,141.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the transaction, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,881 shares of company stock valued at $21,965,491. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

A number of institutional investors have recently made changes to their positions in GKOS. Xponance Inc. increased its stake in Glaukos by 4.1% in the 4th quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock valued at $229,000 after buying an additional 113 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Glaukos by 1.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock valued at $902,000 after acquiring an additional 150 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Glaukos by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock valued at $1,969,000 after acquiring an additional 163 shares during the last quarter. Arizona State Retirement System raised its holdings in Glaukos by 2.1% during the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock worth $981,000 after acquiring an additional 264 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after purchasing an additional 270 shares during the last quarter. 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.