JPMorgan Chase & Co. Increases Glaukos (NYSE:GKOS) Price Target to $110.00

Glaukos (NYSE:GKOS) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $108.00 to $110.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.28% from the stock’s current price.

Several other equities analysts have also recently issued reports on GKOS. Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target on shares of Glaukos in a research report on Wednesday, April 3rd. Truist Financial restated a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Glaukos in a report on Thursday. Wells Fargo & Company upped their price target on Glaukos from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup boosted their target price on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Needham & Company LLC lifted their price target on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Glaukos Stock Up 1.4 %

NYSE:GKOS traded up $1.48 during trading hours on Thursday, reaching $106.51. 507,497 shares of the company were exchanged, compared to its average volume of 497,055. The stock’s 50-day moving average is $93.33 and its 200-day moving average is $82.87. Glaukos has a twelve month low of $49.19 and a twelve month high of $108.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.38.

Glaukos (NYSE:GKOS) last posted 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). 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 period last year, the business earned ($0.59) EPS. Glaukos’s revenue was up 15.8% compared to the same quarter last year. Research analysts expect that Glaukos will post -2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total value of $441,250.00. Following the sale, the director now owns 30,620 shares in the company, valued at $2,702,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now owns 30,620 shares in the company, valued at $2,702,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 1,372 shares of Glaukos 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 owns 52,532 shares in the company, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Insiders have sold 232,881 shares of company stock valued at $21,965,491 over the last quarter. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Brown Capital Management LLC boosted its stake in shares of Glaukos by 3.4% during the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after buying an additional 89,420 shares during the period. Fred Alger Management LLC raised its holdings in Glaukos by 9.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after acquiring an additional 150,102 shares during the period. Invesco Ltd. increased its holdings in shares of Glaukos by 45.5% during the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after purchasing an additional 453,756 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after purchasing an additional 31,213 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after purchasing an additional 151,415 shares during the period. 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.