Glaukos Corporation (NYSE:GKOS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts remain broadly positive: Glaukos has a “Moderate Buy” consensus from 14 analysts, with 12 buy ratings, one hold and one sell. The average 12-month price target is $178.08.
• Quarterly results exceeded expectations: Glaukos reported a loss of $0.14 per share versus the expected $0.21 loss, while revenue reached $185.61 million, up 49.6% year over year and above estimates.
• Insiders have been selling shares: Company insiders sold 113,025 shares worth approximately $19.6 million over the last quarter, while institutional investors own a substantial 99.04% of the stock.

Shares of Glaukos Corporation (NYSE:GKOS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $178.0833.

Several research analysts have issued reports on the stock. Piper Sandler reiterated an "overweight" rating and set a $195.00 target price (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC upped their price target on shares of Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. HC Wainwright increased their price objective on shares of Glaukos from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, William Blair reissued an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alex Thurman sold 20,000 shares of Glaukos stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. This represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 113,025 shares of company stock worth $19,600,006 over the last quarter. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Glaukos

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR purchased a new position in shares of Glaukos in the first quarter worth about $363,000. Quantinno Capital Management LP boosted its position in Glaukos by 964.0% in the first quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier's stock valued at $3,320,000 after buying an additional 27,938 shares during the last quarter. DNB Asset Management AS increased its holdings in Glaukos by 11.9% in the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier's stock worth $9,295,000 after buying an additional 8,770 shares during the period. Landscape Capital Management L.L.C. increased its holdings in Glaukos by 125.3% in the 4th quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier's stock worth $2,599,000 after buying an additional 12,799 shares during the period. Finally, BlackRock Inc. acquired a new position in Glaukos in the 2nd quarter worth approximately $1,333,318,000. Hedge funds and other institutional investors own 99.04% of the company's stock.

Glaukos Price Performance

Shares of GKOS stock opened at $170.39 on Friday. Glaukos has a twelve month low of $73.16 and a twelve month high of $191.62. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of -52.43 and a beta of 0.76. The stock has a fifty day simple moving average of $169.64 and a two-hundred day simple moving average of $138.28. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business's revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, analysts predict that Glaukos will post -0.32 EPS for the current fiscal year.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products designed to treat glaucoma, corneal disorders and other eye conditions. The company's technologies are intended to provide alternatives to traditional treatments and support earlier intervention in the management of progressive eye disease.

Glaukos is best known for its portfolio of micro-invasive glaucoma surgery products, including the iStent family of implantable devices.

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