Stifel Nicolaus Forecasts Strong Price Appreciation for Glaukos (NYSE:GKOS) Stock

Key Points

• Stifel Nicolaus raised its price target on Glaukos from $170 to $175 and kept a buy rating, implying about 12.6% upside from the previous close.
• Wall Street sentiment remains bullish, with multiple firms recently lifting targets or reiterating positive ratings; the consensus among analysts is a “Moderate Buy” with an average target of $154.85.
• Glaukos beat earnings and revenue expectations in its latest quarter, reporting a smaller-than-expected loss and 41.2% year-over-year revenue growth, though insiders have sold shares recently.

Glaukos (NYSE:GKOS - Get Free Report) had its price target increased by equities researchers at Stifel Nicolaus from $170.00 to $175.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. Stifel Nicolaus' price target points to a potential upside of 12.61% from the stock's previous close.

GKOS has been the subject of several other research reports. William Blair restated an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Citigroup increased their price target on Glaukos from $162.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Truist Financial lifted their price objective on shares of Glaukos from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen raised Glaukos from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Glaukos currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.85.

Glaukos Price Performance

GKOS stock opened at $155.41 on Friday. The stock's 50 day moving average price is $133.91 and its 200 day moving average price is $121.79. The firm has a market cap of $9.13 billion, a P/E ratio of -47.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos has a 1 year low of $73.16 and a 1 year high of $161.53.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to analysts' expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business's revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, sell-side analysts expect that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the completion of the sale, the chief financial officer directly owned 43,681 shares of the company's stock, valued at $6,770,555. This represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares of the company's stock, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,273 shares of company stock valued at $8,882,003 over the last ninety days. Corporate insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in shares of Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock valued at $575,844,000 after buying an additional 2,329,608 shares during the period. Primecap Management Co. CA raised its position in shares of Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Glaukos by 209.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier's stock valued at $152,476,000 after acquiring an additional 913,458 shares during the period. Millennium Management LLC boosted its stake in Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier's stock valued at $181,751,000 after purchasing an additional 691,289 shares during the period. Finally, UBS Group AG grew its stake in shares of Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier's stock worth $98,677,000 after acquiring an additional 663,849 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

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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