Glaukos (NYSE:GKOS) Earns "Buy" Rating from Truist Financial

Glaukos (NYSE:GKOS - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Truist Financial in a report issued on Thursday, Benzinga reports. They presently have a $125.00 price target on the medical instruments supplier's stock, up from their prior price target of $120.00. Truist Financial's price objective would suggest a potential upside of 18.90% from the stock's previous close.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus reissued a "buy" rating and issued a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. Citigroup raised their price target on shares of Glaukos from $107.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. Mizuho boosted their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. StockNews.com cut shares of Glaukos from a "hold" rating to a "sell" rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company boosted their price target on Glaukos from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Glaukos presently has an average rating of "Moderate Buy" and an average price target of $107.00.

Glaukos Stock Up 6.3 %

Glaukos stock traded up $6.22 during midday trading on Thursday, reaching $105.13. The stock had a trading volume of 849,202 shares, compared to its average volume of 655,382. Glaukos has a 1-year low of $45.47 and a 1-year high of $108.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The firm's fifty day simple moving average is $92.99 and its 200-day simple moving average is $82.59. The stock has a market capitalization of $5.28 billion, a P/E ratio of -37.82 and a beta of 1.08.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the previous year, the company posted ($0.59) EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts expect that Glaukos will post -2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company's stock, valued at $5,281,567.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Foley sold 4,560 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total value of $423,487.20. Following the transaction, the director now directly owns 33,220 shares in the company, valued at $3,085,141.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,881 shares of company stock worth $21,965,491. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Glaukos

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier's stock valued at $109,115,000 after purchasing an additional 453,756 shares during the period. Norges Bank bought a new position in Glaukos during the fourth quarter valued at about $28,807,000. Rhenman & Partners Asset Management AB increased its holdings in Glaukos by 236.8% during the third quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier's stock worth $24,080,000 after buying an additional 225,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Glaukos in the fourth quarter worth about $15,065,000. Finally, Primecap Management Co. CA boosted its stake in Glaukos by 23.7% in the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier's stock valued at $62,800,000 after acquiring an additional 151,415 shares during 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.