Needham & Company LLC Cuts Glaukos (NYSE:GKOS) Price Target to $115.00

Glaukos (NYSE:GKOS - Get Free Report) had its price target cut by equities researchers at Needham & Company LLC from $176.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the medical instruments supplier's stock. Needham & Company LLC's price target would indicate a potential upside of 21.80% from the stock's previous close.

Several other brokerages also recently commented on GKOS. Piper Sandler dropped their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Mizuho cut their price objective on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Truist Financial lowered their target price on Glaukos from $185.00 to $140.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered Glaukos from an "overweight" rating to an "equal weight" rating and set a $86.00 price target on the stock. in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glaukos currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.92.

Glaukos Trading Up 0.6 %

NYSE:GKOS opened at $94.42 on Thursday. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -32.90 and a beta of 0.88. Glaukos has a 1-year low of $77.91 and a 1-year high of $163.71. The business's 50-day moving average price is $99.10 and its two-hundred day moving average price is $129.41. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the prior year, the firm earned ($0.70) earnings per share. The business's quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts expect that Glaukos will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, CFO Alex R. Thurman sold 1,520 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tomas Navratil sold 3,416 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the transaction, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

Institutional Trading of Glaukos

Several institutional investors have recently added to or reduced their stakes in GKOS. Bessemer Group Inc. boosted its position in shares of Glaukos by 133.9% in the first 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 during the period. Whipplewood Advisors LLC boosted its holdings in Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 277 shares during the period. First Horizon Advisors Inc. boosted its holdings in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after purchasing an additional 159 shares during the period. Versant Capital Management Inc grew its position in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Glaukos during the fourth quarter worth approximately $43,000. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

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.

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