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

Key Points

• Analyst sentiment is broadly positive for Glaukos, with a consensus rating of “Moderate Buy” from 14 covering firms. Twelve analysts rate it a buy, and the average 12-month price target is about $149.17.
• The company beat first-quarter expectations, reporting EPS of -$0.18 versus the expected -$0.30 and revenue of $150.57 million versus $137.0 million estimated. Revenue also rose 41.2% year over year.
• Shares were trading near their 52-week high, opening at $144.37 after a 1.3% move higher. The stock has ranged from $73.16 to $148.11 over the past year.

Glaukos Corporation (NYSE:GKOS - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fourteen research firms that are covering the stock, MarketBeat.com reports. One 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 12 month price target among analysts that have issued ratings on the stock in the last year is $149.1667.

A number of research firms have commented on GKOS. William Blair reissued an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $170.00 price objective on shares of Glaukos in a research report on Thursday, April 30th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $162.00 price objective on shares of Glaukos in a research report on Wednesday, June 10th.

Glaukos Trading Up 1.3%

GKOS stock opened at $144.37 on Friday. The company has a market capitalization of $8.48 billion, a PE ratio of -44.02 and a beta of 0.82. Glaukos has a 12 month low of $73.16 and a 12 month high of $148.11. The firm's 50-day moving average is $127.29 and its 200 day moving average is $118.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12. The business 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 company's revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. On average, research analysts anticipate that Glaukos will post -0.57 EPS for the current year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares of the company's stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,115,340. The trade was a 18.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,273 shares of company stock worth $5,832,003 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Corp grew its position in shares of Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock worth $27,000 after buying an additional 223 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Glaukos in the 4th quarter worth approximately $28,000. Larson Financial Group LLC boosted its stake in Glaukos by 62.0% in the 4th 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 in the last quarter. Parallel Advisors LLC boosted its stake in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Glaukos by 111.4% in the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

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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