Glaukos (NYSE:GKOS) Coverage Initiated at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has initiated coverage on Glaukos (NYSE:GKOS) with a buy rating and a price target of $103.00, indicating a potential upside of 21.81% from the previous close.
• Glaukos reported a revenue increase of 29.7% year-over-year, with earnings per share coming in at ($0.24), slightly beating expectations.
• Currently, Glaukos has a consensus rating of "Moderate Buy" from analysts, with multiple price target adjustments from various firms, with the average price target set at $122.00.

Analysts at The Goldman Sachs Group started coverage on shares of Glaukos (NYSE:GKOS - Get Free Report) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $103.00 price target on the medical instruments supplier's stock. The Goldman Sachs Group's price target indicates a potential upside of 21.81% from the company's previous close.

A number of other analysts have also weighed in on GKOS. Mizuho set a $130.00 price objective on shares of Glaukos in a research report on Thursday, July 31st. UBS Group increased their price objective on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Zacks Research lowered shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. William Blair raised shares of Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Glaukos currently has an average rating of "Moderate Buy" and a consensus price target of $122.00.

Glaukos Stock Up 1.6%

Shares of NYSE GKOS opened at $84.56 on Wednesday. The firm's 50-day moving average price is $88.63 and its 200-day moving average price is $93.47. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -51.25 and a beta of 0.76. Glaukos has a 12-month low of $77.10 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) 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 analysts' expectations of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The business's revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Glaukos will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently modified their holdings of GKOS. Versant Capital Management Inc boosted its stake in shares of Glaukos by 583.9% during the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC lifted its position in Glaukos by 5,912.8% during the first quarter. GAMMA Investing LLC now owns 133,064 shares of the medical instruments supplier's stock valued at $13,096,000 after acquiring an additional 130,851 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Glaukos by 59.5% during the first quarter. Harbor Capital Advisors Inc. now owns 39,132 shares of the medical instruments supplier's stock valued at $3,851,000 after acquiring an additional 14,593 shares during the last quarter. SG Americas Securities LLC lifted its position in Glaukos by 35.2% during the first quarter. SG Americas Securities LLC now owns 4,924 shares of the medical instruments supplier's stock valued at $485,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Glaukos by 25.2% during the first quarter. Handelsbanken Fonder AB now owns 18,400 shares of the medical instruments supplier's stock valued at $1,811,000 after acquiring an additional 3,700 shares during the last quarter. 99.04% of the stock is currently owned by 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.