Glaukos Corp (GKOS) Receives $73.29 Consensus Price Target from Analysts

Shares of Glaukos Corp (NYSE:GKOS) have been given a consensus rating of “Buy” by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $73.29.

GKOS has been the subject of several research reports. Stifel Nicolaus raised their price target on shares of Glaukos from $58.00 to $68.00 and gave the stock a “positive” rating in a report on Thursday, February 28th. Stephens boosted their price objective on shares of Glaukos from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. BMO Capital Markets boosted their price objective on shares of Glaukos from $66.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. Wells Fargo & Co restated a “buy” rating on shares of Glaukos in a research note on Wednesday, March 20th. Finally, BTIG Research assumed coverage on shares of Glaukos in a research report on Friday, March 8th. They set a “neutral” rating and a $66.02 target price on the stock.

Shares of Glaukos stock traded down $2.06 during trading on Thursday, hitting $64.49. The stock had a trading volume of 12,564 shares, compared to its average volume of 443,454. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.72 and a quick ratio of 6.23. The company has a market cap of $2.43 billion, a P/E ratio of -174.30 and a beta of 1.54. Glaukos has a 1 year low of $34.08 and a 1 year high of $83.14.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $54.03 million during the quarter, compared to analysts’ expectations of $50.13 million. Glaukos had a negative net margin of 5.93% and a negative return on equity of 6.90%. On average, analysts expect that Glaukos will post -0.3 EPS for the current fiscal year.

In other Glaukos news, CFO Joseph E. Gilliam sold 2,603 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.14, for a total value of $169,559.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Chris M. Calcaterra sold 90,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.69, for a total transaction of $6,092,100.00. Following the completion of the sale, the chief operating officer now directly owns 193,344 shares in the company, valued at approximately $13,087,455.36. The disclosure for this sale can be found here. Insiders sold a total of 96,250 shares of company stock worth $6,511,479 in the last three months. Insiders own 8.70% of the company’s stock.

Several large investors have recently modified their holdings of GKOS. FMR LLC boosted its stake in shares of Glaukos by 85.8% in the 4th quarter. FMR LLC now owns 2,280,178 shares of the medical instruments supplier’s stock valued at $128,077,000 after purchasing an additional 1,052,748 shares in the last quarter. Baillie Gifford & Co. lifted its position in Glaukos by 27.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,725,483 shares of the medical instruments supplier’s stock worth $96,921,000 after buying an additional 373,952 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Glaukos during the 4th quarter worth about $20,893,000. New York State Common Retirement Fund lifted its position in Glaukos by 139.3% during the 4th quarter. New York State Common Retirement Fund now owns 510,458 shares of the medical instruments supplier’s stock worth $28,672,000 after buying an additional 297,158 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Glaukos by 284.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 346,669 shares of the medical instruments supplier’s stock worth $27,169,000 after buying an additional 256,551 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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