Glaukos' (GKOS) "Overweight" Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler reiterated its Overweight rating on Glaukos and kept a $165 price target, implying about 17.9% upside from the current share price.
• Glaukos beat first-quarter expectations, reporting EPS of -$0.18 versus the expected -$0.30 and revenue of $150.57 million, up 41.2% year over year.
• Analyst sentiment remains broadly positive, with 12 Buy ratings versus just one Hold and one Sell, while institutional ownership remains high at 99.04%.

Glaukos (NYSE:GKOS - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Piper Sandler in a report released on Wednesday,Benzinga reports. They presently have a $165.00 price target on the medical instruments supplier's stock. Piper Sandler's target price would suggest a potential upside of 17.86% from the company's current price.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Glaukos from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Stifel Nicolaus set a $170.00 target price on Glaukos in a research report on Thursday, April 30th. William Blair restated an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. BTIG Research reaffirmed a "buy" rating and set a $162.00 price target on shares of Glaukos in a report on Wednesday, June 10th. Finally, Citigroup raised their price target on Glaukos from $140.00 to $162.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $149.17.

Glaukos Stock Up 0.2%

GKOS stock opened at $140.00 on Wednesday. The company has a market cap of $8.22 billion, a PE ratio of -42.75 and a beta of 0.82. 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 has a 52 week low of $73.16 and a 52 week high of $148.11. The business has a 50-day simple moving average of $128.02 and a 200 day simple moving average of $118.68.

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

Insider Activity at Glaukos

In related news, Director Leana Wen sold 1,700 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the transaction, the director owned 19,739 shares of the company's stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction 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 completion of the transaction, the chief financial officer owned 43,681 shares in the company, valued at $6,115,340. This represents a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,273 shares of company stock valued at $5,832,003 in the last quarter. Corporate insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its stake in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock valued at $575,844,000 after acquiring an additional 2,329,608 shares in the last quarter. Wellington Management Group LLP increased its stake in Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock valued at $292,004,000 after purchasing an additional 336,266 shares during the period. Primecap Management Co. CA lifted its stake in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the period. State Street Corp boosted its holdings in Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after buying an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock worth $206,503,000 after acquiring an additional 68,497 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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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