Glaukos (NYSE:GKOS) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Glaukos (NYSE:GKOS - Free Report) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat Ratings reports. They currently have $162.00 price objective on the medical instruments supplier's stock, up from their prior price objective of $132.00.

Several other equities research analysts have also issued reports on GKOS. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. UBS Group assumed coverage on Glaukos in a research report on Friday, December 6th. They issued a "buy" rating and a $182.00 target price on the stock. StockNews.com raised Glaukos from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their price target on Glaukos from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley cut shares of Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price target for the company. in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Glaukos presently has an average rating of "Moderate Buy" and an average price target of $143.17.

Glaukos Stock Up 4.8 %

GKOS stock traded up $6.51 during trading hours on Wednesday, reaching $142.89. 798,914 shares of the stock were exchanged, compared to its average volume of 570,182. The company has a market cap of $7.88 billion, a price-to-earnings ratio of -47.43 and a beta of 1.03. The firm's 50-day moving average is $135.53 and its 200-day moving average is $126.38. Glaukos has a 12 month low of $59.58 and a 12 month high of $147.65. 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 announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Glaukos's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) EPS. On average, equities research analysts expect that Glaukos will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the business. HighTower Advisors LLC raised its stake in Glaukos by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier's stock worth $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. raised its position in shares of Glaukos by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier's stock valued at $3,216,000 after buying an additional 128 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Glaukos in the third quarter valued at approximately $25,000. New York State Teachers Retirement System boosted its stake in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier's stock valued at $6,272,000 after buying an additional 200 shares during the period. Finally, KBC Group NV grew its position in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock worth $188,000 after buying an additional 201 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

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.