Piper Sandler Has Lowered Expectations for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS - Get Free Report) had its target price reduced by analysts at Piper Sandler from $180.00 to $165.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has an "overweight" rating on the medical instruments supplier's stock. Piper Sandler's target price points to a potential upside of 83.02% from the company's current price.

GKOS has been the topic of several other reports. Needham & Company LLC lifted their price target on shares of Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Mizuho raised Glaukos from a "neutral" rating to an "outperform" rating and upped their target price for the company from $140.00 to $200.00 in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on Glaukos from $153.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Truist Financial lowered their target price on shares of Glaukos from $185.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Stifel Nicolaus upped their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $156.17.

Glaukos Stock Up 1.5 %

NYSE GKOS traded up $1.35 during midday trading on Tuesday, hitting $90.15. 662,537 shares of the company traded hands, compared to its average volume of 639,572. Glaukos has a 52 week low of $77.91 and a 52 week high of $163.71. The company's 50-day simple moving average is $108.10 and its 200-day simple moving average is $131.38. The company has a market cap of $5.10 billion, a PE ratio of -31.41 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). The company had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, equities research analysts forecast that Glaukos will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares of the company's stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in Glaukos in the fourth quarter valued at approximately $3,679,000. Sanctuary Advisors LLC purchased a new stake in Glaukos in the 3rd quarter worth $258,000. Rhumbline Advisers raised its position in Glaukos by 0.3% during the fourth quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier's stock worth $21,260,000 after acquiring an additional 403 shares during the period. IFP Advisors Inc purchased a new position in Glaukos during the fourth quarter valued at $43,000. Finally, US Bancorp DE increased its stake in shares of Glaukos by 8.3% during the fourth quarter. US Bancorp DE now owns 6,099 shares of the medical instruments supplier's stock worth $914,000 after purchasing an additional 470 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.