Truist Financial Lowers Glaukos (NYSE:GKOS) Price Target to $120.00

Key Points

• Truist Financial has reduced its target price for Glaukos stock from $126.00 to $120.00, maintaining a "buy" rating and suggesting a potential upside of 43.38% based on the company's previous close.
• Glaukos recently reported a quarterly loss of ($0.24) EPS, which was better than the consensus estimate of ($0.26), along with a revenue increase of 29.7% year-over-year.
• The general sentiment among analysts is positive, with over 90% of the stock owned by institutional investors; one investment analyst rates it as a "Strong Buy" and ten others as "Buy."

Glaukos (NYSE:GKOS - Get Free Report) had its price target decreased by Truist Financial from $126.00 to $120.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. Truist Financial's price objective points to a potential upside of 41.61% from the stock's current price.

Other equities analysts have also issued reports about the company. Mizuho set a $130.00 target price on Glaukos in a research note on Thursday, July 31st. William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. UBS Group lifted their target price on shares of Glaukos from $125.00 to $134.00 and gave the company 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 report on Friday, August 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Glaukos presently has an average rating of "Moderate Buy" and an average price target of $123.58.

Glaukos Stock Performance

Shares of NYSE:GKOS traded up $1.27 during trading on Monday, hitting $84.74. 594,073 shares of the company were exchanged, compared to its average volume of 771,963. The company has a market cap of $4.86 billion, a PE ratio of -51.36 and a beta of 0.77. Glaukos has a 52-week low of $77.10 and a 52-week high of $163.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The stock has a 50 day moving average of $90.99 and a 200 day moving average of $94.36.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.02. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The business had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. During the same quarter last year, the company earned ($0.52) EPS. The firm's revenue was up 29.7% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Glaukos will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Glaukos

A number of large investors have recently made changes to their positions in GKOS. Norges Bank bought a new position in shares of Glaukos in the 2nd quarter worth approximately $76,314,000. Primecap Management Co. CA lifted its position in Glaukos by 50.0% during the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier's stock valued at $188,814,000 after buying an additional 609,523 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Glaukos by 56.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier's stock valued at $125,735,000 after buying an additional 461,386 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Glaukos in the 2nd quarter worth about $41,946,000. Finally, William Blair Investment Management LLC increased its stake in shares of Glaukos by 52.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier's stock worth $117,347,000 after acquiring an additional 390,805 shares in the last quarter. 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.