Glaukos (NYSE:GKOS) Stock Price Expected to Rise, Truist Financial Analyst Says

Glaukos (NYSE:GKOS - Get Free Report) had its target price boosted by research analysts at Truist Financial from $152.00 to $185.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical instruments supplier's stock. Truist Financial's price objective points to a potential upside of 27.46% from the stock's current price.

Several other research firms have also recently issued reports on GKOS. UBS Group initiated coverage on shares of Glaukos in a research note on Friday, December 6th. They set a "buy" rating and a $182.00 target price on the stock. Stephens upgraded shares of Glaukos to a "strong-buy" rating in a research report on Monday, December 2nd. Wells Fargo & Company lifted their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Piper Sandler set a $140.00 price target on Glaukos in a report on Thursday, October 17th. Finally, BTIG Research lifted their price objective on Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.92.

Glaukos Stock Down 0.8 %

Shares of GKOS stock traded down $1.21 during mid-day trading on Wednesday, reaching $145.14. 1,557,815 shares of the company's stock traded hands, compared to its average volume of 574,600. The company's 50-day moving average price is $136.95 and its 200-day moving average price is $127.52. The company has a market cap of $8.00 billion, a P/E ratio of -48.06 and a beta of 1.03. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a 12 month low of $74.75 and a 12 month high of $147.65.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million for the quarter, compared to analysts' expectations of $91.50 million. During the same period in the prior year, the firm posted ($0.50) earnings per share. The company's quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts expect that Glaukos will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Exome Asset Management LLC bought a new stake in shares of Glaukos during the third quarter valued at approximately $3,369,000. Franklin Resources Inc. increased its holdings in Glaukos by 80.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier's stock worth $2,031,000 after purchasing an additional 6,948 shares during the period. Tidal Investments LLC raised its position in Glaukos by 83.1% during the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier's stock valued at $1,942,000 after purchasing an additional 6,767 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Glaukos in the 3rd quarter worth $258,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Glaukos by 84.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier's stock worth $3,709,000 after buying an additional 13,019 shares during the period. Hedge funds and other 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.