Wells Fargo & Company Issues Positive Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS - Get Free Report) had its target price raised by equities researchers at Wells Fargo & Company from $153.00 to $160.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the medical instruments supplier's stock. Wells Fargo & Company's price objective suggests a potential upside of 26.95% from the stock's previous close.

GKOS has been the subject of several other reports. BTIG Research increased their price objective on Glaukos from $140.00 to $149.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Citigroup raised Glaukos from a "neutral" rating to a "buy" rating and increased their price objective for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. Morgan Stanley downgraded Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective for the company. in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their price target on Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.25.

Glaukos Stock Down 19.9 %

GKOS traded down $31.33 on Friday, reaching $126.03. The company's stock had a trading volume of 4,139,906 shares, compared to its average volume of 515,602. The stock has a 50 day moving average of $152.75 and a two-hundred day moving average of $139.41. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -43.91 and a beta of 1.04. Glaukos has a fifty-two week low of $83.90 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, analysts forecast that Glaukos will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company's stock, valued at $4,656,707.36. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,744 shares of company stock worth $2,792,151. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock valued at $895,887,000 after buying an additional 101,838 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier's stock valued at $284,501,000 after buying an additional 1,630,270 shares in the last quarter. State Street Corp increased its position in shares of Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock valued at $254,626,000 after buying an additional 98,109 shares in the last quarter. Invesco Ltd. increased its position in shares of Glaukos by 4.9% in the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier's stock valued at $218,708,000 after buying an additional 68,310 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Glaukos by 2.0% in the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier's stock valued at $162,223,000 after buying an additional 24,370 shares in 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.