Glaukos (NYSE:GKOS) Price Target Raised to $176.00 at Needham & Company LLC

Glaukos (NYSE:GKOS - Get Free Report) had its target price boosted by investment analysts at Needham & Company LLC from $149.00 to $176.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. Needham & Company LLC's target price suggests a potential upside of 39.64% from the company's current price.

A number of other equities research analysts have also weighed in on the company. Piper Sandler reiterated an "overweight" rating and issued a $180.00 price objective (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Wells Fargo & Company lifted their price objective on Glaukos from $145.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Glaukos has an average rating of "Moderate Buy" and an average price target of $163.25.

Glaukos Trading Down 19.9 %

GKOS traded down $31.33 on Friday, hitting $126.03. 4,139,906 shares of the company were exchanged, compared to its average volume of 515,602. The firm has a fifty day simple moving average of $152.75 and a two-hundred day simple moving average of $139.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos has a 12 month low of $83.90 and a 12 month high of $163.71. The stock has a market capitalization of $6.95 billion, a PE ratio of -43.91 and a beta of 1.04.

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 business had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Sell-side analysts expect that Glaukos will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now owns 72,437 shares of the company's stock, valued at $10,658,380.18. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,744 shares of company stock worth $2,792,151. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Values First Advisors Inc. purchased a new position in shares of Glaukos in the third quarter worth $25,000. IFP Advisors Inc purchased a new position in shares of Glaukos in the fourth quarter worth $43,000. Asset Planning Inc purchased a new position in shares of Glaukos in the fourth quarter worth $90,000. CoreCap Advisors LLC raised its stake in shares of Glaukos by 36.4% in the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after purchasing an additional 200 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier's stock worth $117,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

About Glaukos

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.