Glaukos Corporation (NYSE:GKOS) Given Average Recommendation of "Moderate Buy" by Analysts

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 received a consensus rating of "Moderate Buy" from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $127.4167.

Several brokerages recently issued reports on GKOS. Piper Sandler reduced their target price on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley cut their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Truist Financial reiterated a "buy" rating and issued a $135.00 target price (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st.

Glaukos Stock Up 0.5%

Shares of NYSE GKOS opened at $88.49 on Thursday. Glaukos has a 1 year low of $77.10 and a 1 year high of $163.71. The firm has a 50-day simple moving average of $97.51 and a two-hundred day simple moving average of $107.13. The company has a market cap of $5.07 billion, a P/E ratio of -53.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69.

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 for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The company had revenue of $124.12 million during the quarter, compared to analyst estimates of $115.49 million. During the same quarter last year, the business posted ($0.52) EPS. The firm's revenue for the quarter was up 29.7% on a year-over-year basis. Research analysts anticipate that Glaukos will post -1.08 earnings per share for the current year.

Institutional Trading of Glaukos

Several hedge funds and other institutional investors have recently made changes to their positions in GKOS. Bessemer Group Inc. raised its stake in Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after purchasing an additional 158 shares during the period. Whipplewood Advisors LLC grew its position in Glaukos by 3,957.1% during the first 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 period. First Horizon Advisors Inc. increased its stake in Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after acquiring an additional 159 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of 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 purchasing an additional 327 shares in the last quarter. Finally, Park Place Capital Corp grew its holdings in shares of Glaukos by 68.4% during the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock worth $41,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds 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.

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