Truist Financial Cuts Glaukos (NYSE:GKOS) Price Target to $140.00

Glaukos (NYSE:GKOS - Free Report) had its target price decreased by Truist Financial from $185.00 to $140.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the medical instruments supplier's stock.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company boosted their target price on Glaukos from $153.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC increased their target price on Glaukos from $149.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Stifel Nicolaus increased their price objective on shares of Glaukos from $153.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. Piper Sandler restated an "overweight" rating and set a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Finally, Mizuho upgraded shares of Glaukos from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.17.

Remove Ads

Glaukos Trading Down 8.1 %

Shares of NYSE GKOS traded down $7.68 during trading hours on Friday, hitting $86.84. The company's stock had a trading volume of 910,608 shares, compared to its average volume of 633,535. Glaukos has a 12 month low of $77.91 and a 12 month high of $163.71. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -30.26 and a beta of 0.88. The business has a 50-day simple moving average of $111.68 and a 200-day simple moving average of $132.18. 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 (NYSE:GKOS - Get Free Report) last announced its earnings results 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). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. On average, analysts anticipate that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was 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. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at approximately $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently bought and sold shares of GKOS. HighTower Advisors LLC lifted its holdings in shares of Glaukos by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier's stock valued at $416,000 after purchasing an additional 103 shares during the last quarter. Stifel Financial Corp raised its stake in Glaukos by 37.7% in the third quarter. Stifel Financial Corp now owns 4,230 shares of the medical instruments supplier's stock valued at $551,000 after buying an additional 1,157 shares during the last quarter. XTX Topco Ltd acquired a new stake in Glaukos in the third quarter worth about $404,000. Y Intercept Hong Kong Ltd acquired a new stake in Glaukos in the third quarter worth about $1,006,000. Finally, Barclays PLC grew its stake in shares of Glaukos by 394.4% during the third quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier's stock worth $11,686,000 after acquiring an additional 71,556 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.