Brokerages Set Glaukos Corporation (NYSE:GKOS) Target Price at $127.42

Key Points

• Glaukos Corporation (NYSE:GKOS) has an average rating of "Moderate Buy" from analysts, with targets suggesting a price range between $72.00 and $165.00.
• The company reported a quarterly earnings per share of ($0.24), exceeding estimates and showcasing a 29.7% year-over-year revenue increase to $124.12 million.
• Institutional investors own 99.04% of Glaukos' stock, with significant increases in stakes from several hedge funds during the first quarter.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $127.4167.

Several analysts have recently issued reports on GKOS shares. Stephens decreased their price objective on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. UBS Group upped their price objective on Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho set a $130.00 price target on Glaukos in a report on Thursday, July 31st. Truist Financial restated a "buy" rating and set a $135.00 price target (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Finally, Wells Fargo & Company increased their price target on Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently bought and sold shares of GKOS. Bessemer Group Inc. grew its position in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. Whipplewood Advisors LLC grew its position in Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 277 shares during the last quarter. First Horizon Advisors Inc. grew its position in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 159 shares during the last quarter. Versant Capital Management Inc grew its position in Glaukos by 583.9% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 327 shares during the last quarter. Finally, Park Place Capital Corp grew its position in Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock valued at $41,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 99.04% of the company's stock.

Glaukos Price Performance

GKOS traded down $3.20 during trading on Thursday, reaching $84.80. 812,044 shares of the company traded hands, compared to its average volume of 1,276,931. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. Glaukos has a 12-month low of $77.10 and a 12-month high of $163.71. The firm has a fifty day simple moving average of $97.18 and a 200 day simple moving average of $105.77. The company has a market cap of $4.86 billion, a P/E ratio of -51.39 and a beta of 0.78.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million during the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The company's revenue was up 29.7% on a year-over-year basis. During the same period last year, the firm posted ($0.52) EPS. On average, equities analysts forecast that Glaukos will post -1.08 EPS for the current year.

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.