Glaukos (NYSE:GKOS) Lifted to “Hold” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Glaukos (NYSE:GKOS – Free Report) from a sell rating to a hold rating in a report issued on Monday.

A number of other research firms also recently issued reports on GKOS. Needham & Company LLC boosted their price objective on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley increased their price target on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on Glaukos from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $130.45.

Get Our Latest Report on GKOS

Glaukos Trading Up 0.4 %

Shares of NYSE:GKOS opened at $130.47 on Monday. Glaukos has a 12-month low of $59.22 and a 12-month high of $136.60. The business has a 50 day moving average of $129.00 and a 200-day moving average of $117.96. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.57 billion, a PE ratio of -45.30 and a beta of 1.02.

Glaukos (NYSE:GKOS – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). The business had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.55) EPS. As a group, equities research analysts forecast that Glaukos will post -2.18 earnings per share for the current year.

Insider Activity

In related news, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares of the company’s stock, valued at $4,291,190.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now directly owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,250 shares of company stock worth $4,825,873. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in the business. Values First Advisors Inc. bought a new position in shares of Glaukos during the third quarter valued at $25,000. Caldwell Sutter Capital Inc. raised its position in 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 worth $140,000 after purchasing an additional 1,465 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 486 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Glaukos in the 2nd quarter valued at about $187,000. Finally, Brighton Jones LLC acquired a new stake in shares of Glaukos in the second quarter valued at about $208,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

(Get Free Report)

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.

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