Glaukos (NYSE:GKOS) Upgraded to "Buy" at Wall Street Zen

Key Points

• Glaukos (NYSE:GKOS) was upgraded to “buy” from “hold” by Wall Street Zen, adding to a broadly bullish analyst consensus on the stock.
• Other firms have also turned positive, including Citigroup raising its target to $162 and several analysts reiterating overweight/outperform ratings; MarketBeat notes 12 Buy ratings versus one Hold and one Sell.
• The company reported better-than-expected first-quarter results, with EPS of -$0.18 versus estimates of -$0.30 and revenue up 41.2% year over year to $150.57 million.

Glaukos (NYSE:GKOS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other analysts have also recently issued reports on the company. Citigroup increased their target price on Glaukos from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. William Blair restated an "outperform" rating on shares of Glaukos in a research note on Tuesday, May 26th. Stifel Nicolaus set a $170.00 price target on Glaukos in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an "overweight" rating and set a $165.00 price objective on shares of Glaukos in a research report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.17.

Glaukos Trading Down 0.6%

Shares of Glaukos stock opened at $147.49 on Friday. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $148.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The company has a market capitalization of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75. The company has a fifty day moving average of $129.31 and a 200 day moving average of $119.35.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly 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. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business had revenue of $150.57 million for the quarter, compared to analysts' expectations of $137.00 million. During the same period last year, the firm earned ($0.22) earnings per share. The business's quarterly revenue was up 41.2% on a year-over-year basis. On average, sell-side analysts anticipate that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other Glaukos news, Director Leana Wen sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the transaction, the director owned 19,739 shares in the company, valued at $2,829,585.65. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm's 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. This represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 41,273 shares of company stock valued at $5,832,003. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier's stock worth $766,000 after purchasing an additional 198 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Glaukos by 1,405.9% during the first quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier's stock valued at $252,000 after purchasing an additional 2,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Glaukos by 41.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier's stock valued at $22,636,000 after purchasing an additional 67,668 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Glaukos in the 2nd quarter worth $203,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of Glaukos by 10.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier's stock worth $826,000 after buying an additional 773 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

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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