Glaukos (NYSE:GKOS) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Glaukos (NYSE:GKOS - Free Report) from a hold rating to a buy rating in a research note published on Monday, MarketBeat.com reports. They currently have $125.00 target price on the medical instruments supplier's stock, up from their prior target price of $84.00.

Several other equities research analysts have also commented on GKOS. JPMorgan Chase & Co. upped their price target on shares of Glaukos from $108.00 to $110.00 and gave the company an overweight rating in a research report on Thursday. Truist Financial reiterated a buy rating and issued a $125.00 price target (up from $120.00) on shares of Glaukos in a research report on Thursday. BTIG Research boosted their price objective on shares of Glaukos from $107.00 to $112.00 and gave the company a buy rating in a research report on Thursday. Citigroup raised their target price on Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a report on Monday, March 25th. Finally, Stifel Nicolaus reissued a buy rating and set a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Glaukos presently has an average rating of Moderate Buy and an average price target of $108.64.

Glaukos Stock Performance

NYSE:GKOS traded down $1.56 during trading hours on Monday, reaching $104.95. The company had a trading volume of 535,572 shares, compared to its average volume of 652,305. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The firm's 50 day moving average price is $93.33 and its 200-day moving average price is $83.07. Glaukos has a 52 week low of $54.38 and a 52 week high of $110.73.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million during the quarter, compared to analysts' expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.59) earnings per share. On average, analysts forecast that Glaukos will post -2.2 EPS for the current year.

Insider Activity

In other news, CFO Alex R. Thurman sold 474 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the transaction, the chief financial officer now directly owns 54,916 shares in the company, valued at $4,962,758.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Alex R. Thurman sold 474 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the sale, the chief financial officer now directly owns 54,916 shares in the company, valued at $4,962,758.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the completion of the sale, the chief operating officer now owns 119,802 shares in the company, valued at $11,509,378.14. The disclosure for this sale can be found here. Insiders have sold 235,382 shares of company stock worth $22,229,471 over the last ninety days. Corporate insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds have recently made changes to their positions in GKOS. Duality Advisers LP purchased a new stake in Glaukos during the first quarter valued at approximately $3,476,000. Texas Permanent School Fund Corp raised its position in Glaukos by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 42,709 shares of the medical instruments supplier's stock valued at $4,027,000 after purchasing an additional 622 shares during the period. Allspring Global Investments Holdings LLC raised its position in Glaukos by 127.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier's stock valued at $15,657,000 after purchasing an additional 93,076 shares during the period. Valeo Financial Advisors LLC raised its position in Glaukos by 1.7% during the first quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier's stock valued at $902,000 after purchasing an additional 150 shares during the period. Finally, Caldwell Sutter Capital Inc. raised its position in Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 1,465 shares during the period. 99.04% of the stock is currently owned by hedge funds and other 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.