Glaukos Co. (NYSE:GKOS) Receives $129.82 Average Target Price from Analysts

Glaukos Co. (NYSE:GKOS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $129.82.

A number of analysts recently commented on GKOS shares. Morgan Stanley upped their price objective on shares of Glaukos from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Monday, July 15th. Citigroup downgraded Glaukos from a "buy" rating to a "neutral" rating and increased their price target for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Needham & Company LLC lifted their price objective on Glaukos from $131.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Piper Sandler increased their target price on Glaukos from $110.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd.

Insider Buying and Selling

In other news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Aimee S. Weisner sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 2,250 shares of the firm's stock in a transaction on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company's stock, valued at $12,362,964.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,500 shares of company stock worth $5,099,000. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier's stock worth $500,576,000 after acquiring an additional 72,159 shares during the last quarter. Brown Capital Management LLC increased its holdings in shares of Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier's stock valued at $214,448,000 after purchasing an additional 89,420 shares during the last quarter. Fred Alger Management LLC raised its position in shares of Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier's stock valued at $151,337,000 after purchasing an additional 47,308 shares during the period. Primecap Management Co. CA lifted its stake in shares of Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier's stock worth $144,483,000 after buying an additional 372,180 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier's stock worth $73,412,000 after buying an additional 31,213 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Trading Down 1.6 %

GKOS traded down $2.01 during midday trading on Monday, reaching $124.27. 338,993 shares of the company were exchanged, compared to its average volume of 582,474. The stock has a market capitalization of $6.26 billion, a P/E ratio of -43.29 and a beta of 1.03. Glaukos has a one year low of $59.22 and a one year high of $136.60. The stock's 50-day simple moving average is $124.54 and its 200 day simple moving average is $110.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. During the same quarter last year, the firm earned ($0.55) EPS. Glaukos's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, analysts forecast that Glaukos will post -2.18 earnings per share for the current fiscal year.

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.