BTIG Research Reaffirms "Buy" Rating for Glaukos (NYSE:GKOS)

Key Points

• BTIG Research has reiterated a buy rating for Glaukos (GKOS) and set a price target of $118.00, suggesting a potential upside of 30.48% from its current price.
• Glaukos reported a net revenue increase of 29.7% year-over-year, with quarterly revenue of $124.12 million, exceeding analysts' expectations.
• Current analyst ratings for Glaukos include one strong buy, ten buy, two hold, and one sell, with an average target price of $124.83.

BTIG Research reiterated their buy rating on shares of Glaukos (NYSE:GKOS - Free Report) in a report published on Wednesday,Benzinga reports. They currently have a $118.00 target price on the medical instruments supplier's stock.

GKOS has been the topic of several other reports. William Blair raised Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. Mizuho set a $130.00 target price on Glaukos in a research note on Thursday, July 31st. UBS Group boosted their target price on Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their target price on Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Zacks Research downgraded Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.83.

Glaukos Stock Down 5.4%

NYSE:GKOS traded down $4.73 during trading hours on Wednesday, hitting $82.74. 883,604 shares of the company's stock traded hands, compared to its average volume of 636,786. The firm has a market cap of $4.75 billion, a P/E ratio of -50.15 and a beta of 0.77. Glaukos has a twelve month low of $77.10 and a twelve month high of $163.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. The stock's fifty day moving average price is $93.48 and its two-hundred day moving average price is $95.82.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.02. The firm had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.Glaukos's quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts expect that Glaukos will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Glaukos

Several large investors have recently made changes to their positions in the stock. State of Wyoming boosted its stake in shares of Glaukos by 2.3% during the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier's stock worth $487,000 after acquiring an additional 72 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Glaukos by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier's stock valued at $769,000 after purchasing an additional 117 shares during the period. LVW Advisors LLC raised its holdings in Glaukos by 5.9% in the 1st quarter. LVW Advisors LLC now owns 2,408 shares of the medical instruments supplier's stock valued at $237,000 after acquiring an additional 135 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Glaukos by 16.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier's stock valued at $99,000 after acquiring an additional 136 shares in the last quarter. Finally, Bessemer Group Inc. raised 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 valued at $27,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

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.