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

Key Points

• Glaukos Corporation (NYSE:GKOS) has received an average rating of "Moderate Buy" from analysts, with a twelve-month target price of approximately $116.93.
• Despite a negative EPS of ($0.24) for the last quarter, the company reported a revenue of $124.12 million, exceeding analysts' expectations and showing a 29.7% year-over-year increase.
• Institutional investors own 99.04% of Glaukos shares, with notable increases in holdings by firms such as Bessemer Group Inc. and Royal Bank of Canada.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has received an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $116.9231.

A number of analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research note on Wednesday, October 8th. UBS Group lifted their target price on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Glaukos in a research note on Wednesday, October 1st. They issued a "buy" rating and a $103.00 target price for the company. BTIG Research reiterated a "buy" rating and issued a $104.00 target price on shares of Glaukos in a research note on Monday. Finally, Truist Financial reduced their price target on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, September 22nd.

Glaukos Trading Down 8.8%

GKOS stock opened at $79.48 on Tuesday. The company has a market capitalization of $4.56 billion, a PE ratio of -48.17 and a beta of 0.76. Glaukos has a 12 month low of $75.36 and a 12 month high of $163.71. The firm's 50-day moving average is $87.60 and its 200 day moving average is $92.18. 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 posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $115.49 million. During the same quarter last year, the firm posted ($0.52) EPS. The firm's revenue was up 29.7% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Glaukos will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after acquiring an additional 158 shares in the last quarter. Nuveen LLC purchased a new stake in Glaukos in the 1st quarter worth $31,474,000. Ehrlich Financial Group purchased a new stake in Glaukos in the 2nd quarter worth $1,034,000. Royal Bank of Canada increased its holdings in Glaukos by 103.2% in the 1st quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier's stock worth $22,464,000 after acquiring an additional 115,939 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Glaukos in the 1st quarter worth $307,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.

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