UBS Group Begins Coverage on Glaukos (NYSE:GKOS)

Key Points

• UBS initiated coverage of Glaukos with a “neutral” rating. Other analysts remain largely bullish, resulting in a consensus “Moderate Buy” rating and an average price target of $154.85.
• Glaukos shares opened at $152.07, near their 52-week high of $161.53. The company’s latest quarterly results beat expectations, with revenue rising 41.2% year over year to $150.57 million and a smaller-than-expected per-share loss.
• Institutional investors own 99.04% of Glaukos shares and several major firms increased their holdings. However, insiders sold 61,273 shares worth approximately $8.9 million over the past 90 days.

UBS Group began coverage on shares of Glaukos (NYSE:GKOS - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The firm set a "neutral" rating on the medical instruments supplier's stock.

A number of other research firms also recently weighed in on GKOS. Needham & Company LLC lifted their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Truist Financial lifted their price target on Glaukos from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of Glaukos from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. William Blair reissued an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Citigroup boosted their price objective on Glaukos from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.85.

Glaukos Trading Down 1.0%

GKOS stock opened at $152.07 on Tuesday. Glaukos has a 52 week low of $73.16 and a 52 week high of $161.53. The company has a market capitalization of $8.93 billion, a PE ratio of -46.36 and a beta of 0.75. The company's 50-day simple moving average is $136.04 and its 200 day simple moving average is $123.80. 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 (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analysts' expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business's revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) EPS. As a group, sell-side analysts anticipate that Glaukos will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alex R. Thurman sold 10,000 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer owned 43,681 shares in the company, valued at $6,115,340. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,273 shares of company stock valued at $8,882,003 over the last 90 days. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in shares of Glaukos by 77.2% during the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock valued at $575,844,000 after purchasing an additional 2,329,608 shares during the period. Wellington Management Group LLP increased its position in Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA increased its position in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock valued at $381,289,000 after buying an additional 1,123,140 shares in the last quarter. State Street Corp raised its stake in Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after buying an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock worth $206,503,000 after acquiring an additional 68,497 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Company Profile

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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