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

Key Points

• Glaukos has a “Moderate Buy” consensus rating from 14 analysts: 12 buys, one hold and one sell. The average 12-month price target is $177.33, with several firms recently raising targets to between $188 and $201.
• The company exceeded quarterly expectations, reporting a loss of $0.14 per share versus the expected $0.21 loss and revenue of $185.61 million, up 49.6% year over year and well above estimates.
• Shares opened at $185.01, near the 52-week high of $190.00. Insiders sold 110,525 shares worth approximately $19.1 million over the past three months, while institutional investors own 99.04% of the stock.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $177.3333.

Several research firms recently issued reports on GKOS. BTIG Research lifted their price objective on shares of Glaukos from $164.00 to $193.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Needham & Company LLC raised their target price on shares of Glaukos from $150.00 to $201.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Stifel Nicolaus boosted their price objective on Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Citigroup increased their price objective on Glaukos from $175.00 to $188.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Glaukos from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st.

Glaukos Stock Up 0.3%

NYSE:GKOS opened at $185.01 on Monday. Glaukos has a 1-year low of $73.16 and a 1-year high of $190.00. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -56.93 and a beta of 0.78. 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 business's fifty day moving average price is $151.24 and its 200 day moving average price is $129.39.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same quarter in the prior year, the business earned ($0.24) EPS. The company's revenue for the quarter was up 49.6% compared to the same quarter last year. On average, sell-side analysts forecast that Glaukos will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In related news, Director Leana Wen sold 525 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the transaction, the director owned 21,092 shares of the company's stock, valued at $3,535,651.96. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 60,000 shares of the firm's stock in a transaction that occurred 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 owned 72,588 shares of the company's stock, valued at $13,046,967.12. This trade represents a 45.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 110,525 shares of company stock valued at $19,125,006. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp boosted its position in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after buying an additional 223 shares during the last quarter. Allworth Financial LP bought a new position in Glaukos in the second quarter valued at approximately $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos in the 4th quarter valued at $28,000. Larson Financial Group LLC grew its stake in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 132 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Company Profile

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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