Stifel Nicolaus Boosts Glaukos (NYSE:GKOS) Price Target to $175.00

by · The Cerbat Gem

Glaukos (NYSE:GKOS – Get Free Report) had its price target lifted by equities research analysts at Stifel Nicolaus from $170.00 to $175.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 12.61% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a report on Wednesday, July 1st. Needham & Company LLC boosted their target price on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Citigroup increased their price objective on shares of Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Read Our Latest Analysis on GKOS

Glaukos Trading Down 0.9%

GKOS stock opened at $155.41 on Friday. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $161.53. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -47.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The business has a fifty day moving average price of $133.91 and a 200 day moving average price of $121.79.

Glaukos (NYSE:GKOS – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the previous year, the business posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. Analysts expect that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the sale, the director directly owned 35,528 shares in the company, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. This represents a 7.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,273 shares of company stock valued at $8,882,003. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the last quarter. Primecap Management Co. CA grew its holdings in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the period. Goldman Sachs Group Inc. increased its holdings in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock worth $152,476,000 after purchasing an additional 913,458 shares in the last quarter. Millennium Management LLC increased its stake in shares of Glaukos by 75.3% in the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after acquiring an additional 691,289 shares in the last quarter. Finally, UBS Group AG increased its stake in Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after purchasing an additional 663,849 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

(Get Free Report)

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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