JPMorgan Chase & Co. Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $130.00 to $145.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the medical instruments supplier's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 13.41% from the company's previous close.

A number of other equities analysts also recently issued reports on GKOS. StockNews.com upgraded Glaukos from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday. Piper Sandler set a $140.00 target price on shares of Glaukos in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Glaukos from $130.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Finally, Truist Financial upped their price target on shares of Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.55.

Glaukos Price Performance

Shares of NYSE GKOS traded down $3.52 during mid-day trading on Tuesday, hitting $127.86. 1,628,607 shares of the stock traded hands, compared to its average volume of 575,807. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. Glaukos has a twelve month low of $59.22 and a twelve month high of $139.51. The company has a market cap of $7.03 billion, a PE ratio of -39.72 and a beta of 1.02. The firm has a 50 day simple moving average of $129.64 and a two-hundred day simple moving average of $119.98.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. Glaukos's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. As a group, equities research analysts forecast that Glaukos will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction 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 transaction, the director now owns 34,076 shares in the company, valued at approximately $4,291,190.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,525 shares of company stock valued at $5,142,029. Corporate insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Values First Advisors Inc. bought a new stake in shares of Glaukos in the 3rd quarter worth about $25,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos in the 2nd quarter valued at about $187,000. Brighton Jones LLC purchased a new stake in Glaukos in the 2nd quarter valued at about $208,000. Finally, Procyon Advisors LLC purchased a new stake in Glaukos in the 3rd quarter valued at about $210,000. 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.