Glaukos Corporation (NYSE:GKOS) Stock Has Consensus Target Price of $180.54

Key Points

• Analysts are broadly bullish: Glaukos has a “Moderate Buy” consensus from 15 firms, with 13 buy ratings and an average 12-month price target of $180.54. Several firms recently raised their targets to between $195 and $202.
• 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 well above estimates.
• Institutional ownership is substantial, but insiders have been selling: Institutions own 99.04% of the stock, with major new or expanded positions from BlackRock, Jupiter Topco, Primecap and others. Insiders sold 103,025 shares worth approximately $18.1 million during the last quarter.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $180.54.

GKOS has been the topic of a number of analyst reports. HC Wainwright upped their price target on shares of Glaukos from $168.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. BTIG Research raised their price objective on shares of Glaukos from $193.00 to $202.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Needham & Company LLC lifted their target price on shares of Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Piper Sandler reiterated an "overweight" rating and issued a $195.00 target price (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a report on Friday, July 17th.

Insider Activity

In other Glaukos news, Director Leana Wen sold 525 shares of Glaukos stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the sale, the director owned 21,092 shares of the company's stock, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph Gilliam sold 60,000 shares of the business's 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 completion of the transaction, the chief operating officer owned 72,588 shares of the company's stock, valued at $13,046,967.12. This represents a 45.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 103,025 shares of company stock valued at $18,100,006 in the last quarter. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GKOS. BlackRock Inc. bought a new stake in Glaukos in the 2nd quarter worth approximately $1,333,318,000. Jupiter Topco LLC purchased a new stake in Glaukos during the 2nd quarter valued at $679,614,000. Primecap Management Co. CA bought a new position in shares of Glaukos during the 2nd quarter valued at $424,969,000. Janus Henderson Group PLC lifted its holdings in shares of Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock valued at $575,844,000 after buying an additional 2,329,608 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Glaukos by 209.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier's stock valued at $152,476,000 after buying an additional 913,458 shares during the period. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 0.5%

Shares of NYSE:GKOS opened at $164.50 on Tuesday. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $172.70 and a two-hundred day simple moving average of $144.41. Glaukos has a 12-month low of $73.16 and a 12-month high of $191.62. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of -50.61 and a beta of 0.69.

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

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company's primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients' dependence on glaucoma medications.

Glaukos' glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye's natural fluid outflow.

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