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

Key Points

• Analysts rate Glaukos as a “Moderate Buy.” Fourteen brokerages cover the stock, with 12 buy ratings, one hold, and one sell. The average 1-year price target is about $146.17.
• Glaukos beat first-quarter expectations. The company reported a loss of $0.18 per share versus estimates for a $0.30 loss, while revenue came in at $150.57 million, ahead of the $137 million consensus. Revenue also rose 41.2% from a year earlier.
• Insiders have been selling shares recently. The CFO and COO both sold stock in late April and early May, and insiders have sold a total of 45,930 shares worth about $6.32 million over the last three months.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $146.1667.

GKOS has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research report on Tuesday, April 21st. Needham & Company LLC increased their price target on shares of Glaukos from $127.00 to $136.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. William Blair reiterated an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, BTIG Research increased their price target on shares of Glaukos from $141.00 to $162.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st.

Glaukos Stock Up 7.8%

Shares of Glaukos stock opened at $111.13 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -33.88 and a beta of 0.82. The company's 50 day moving average is $121.34 and its 200 day moving average is $114.55. Glaukos has a twelve month low of $73.16 and a twelve month high of $148.11. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm's revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. Research analysts anticipate that Glaukos will post -0.57 EPS for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,115,340. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the transaction, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,930 shares of company stock valued at $6,321,363 over the last three months. Insiders own 5.90% of the company's stock.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently modified their holdings of the company. AustralianSuper Pty Ltd grew its stake in Glaukos by 10.8% during the third quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier's stock valued at $36,685,000 after acquiring an additional 43,750 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Glaukos by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier's stock valued at $54,645,000 after acquiring an additional 27,646 shares in the last quarter. SG Americas Securities LLC grew its stake in Glaukos by 460.8% during the fourth quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier's stock valued at $6,801,000 after acquiring an additional 49,492 shares in the last quarter. TD Asset Management Inc purchased a new position in Glaukos during the third quarter valued at $1,157,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Glaukos by 32.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier's stock valued at $39,336,000 after acquiring an additional 87,781 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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