UBS Group Raises Glaukos (NYSE:GKOS) Price Target to $134.00

Key Points

• UBS Group has raised its price target for Glaukos (GKOS) from $125.00 to $134.00, maintaining a "buy" rating and suggesting a potential upside of 49.03% based on current stock prices.
• Multiple firms have lowered their price targets for Glaukos, with notable reductions from Needham & Company and Wells Fargo, indicating mixed analyst sentiment around the stock.
• Glaukos reported a smaller-than-expected loss in its latest quarterly earnings, surpassing consensus estimates and achieving a year-over-year revenue increase of 29.7%.

Glaukos (NYSE:GKOS - Get Free Report) had its target price increased by investment analysts at UBS Group from $125.00 to $134.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. UBS Group's target price points to a potential upside of 49.03% from the stock's current price.

Several other research firms have also commented on GKOS. Needham & Company LLC reduced their price objective on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stephens reduced their price objective on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company lowered shares of Glaukos from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $160.00 to $86.00 in a research note on Thursday, May 1st. Mizuho reduced their price objective on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, BTIG Research reiterated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.67.

Glaukos Stock Down 4.4%

GKOS opened at $89.92 on Thursday. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09. Glaukos has a 1-year low of $77.10 and a 1-year high of $163.71. The company has a market capitalization of $5.14 billion, a PE ratio of -38.03 and a beta of 0.82. The firm's 50 day simple moving average is $98.44 and its two-hundred day simple moving average is $109.49.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The business had revenue of $124.12 million during the quarter, compared to analysts' expectations of $115.49 million. During the same period last year, the company posted ($0.52) EPS. The business's revenue was up 29.7% on a year-over-year basis. As a group, equities analysts forecast that Glaukos will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Glaukos

Large investors have recently made changes to their positions in the company. Ethic Inc. bought a new stake in shares of Glaukos in the second quarter valued at approximately $236,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Glaukos in the second quarter worth about $1,188,000. William Blair Investment Management LLC increased its position in Glaukos by 52.4% in the second quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier's stock worth $117,347,000 after purchasing an additional 390,805 shares during the period. WCM Investment Management LLC boosted its holdings in Glaukos by 6.2% during the second quarter. WCM Investment Management LLC now owns 102,870 shares of the medical instruments supplier's stock worth $10,433,000 after buying an additional 6,047 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Glaukos by 12.5% in the second quarter. Allianz Asset Management GmbH now owns 64,028 shares of the medical instruments supplier's stock valued at $6,613,000 after purchasing an additional 7,105 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.