William Blair Upgrades Glaukos (NYSE:GKOS) to "Strong-Buy"

Key Points

• William Blair has upgraded Glaukos (NYSE:GKOS) to a "strong-buy" rating, indicating strong confidence in the company's future performance.
• The average target price for Glaukos is currently $127.42, with mixed ratings from various analysts; while 10 have given a buy rating, one rated it a sell.
• Glaukos reported quarterly earnings with a revenue of $124.12 million, exceeding analysts' expectations and showing a year-over-year revenue increase of 29.7%.

Glaukos (NYSE:GKOS - Get Free Report) was upgraded by William Blair to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on GKOS. Piper Sandler reduced their target price on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. BTIG Research reiterated a "buy" rating on shares of Glaukos in a report on Monday, July 14th. Truist Financial reiterated a "buy" rating and issued a $135.00 target price (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Finally, Needham & Company LLC reduced their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.42.

Glaukos Price Performance

GKOS stock opened at $86.39 on Thursday. Glaukos has a 52-week low of $77.10 and a 52-week high of $163.71. The stock's fifty day simple moving average is $97.99 and its 200-day simple moving average is $108.50. The company has a quick ratio of 5.62, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -52.36 and a beta of 0.78.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (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 for the quarter, compared to analysts' expectations of $115.49 million. During the same quarter last year, the firm earned ($0.52) earnings per share. The business's revenue was up 29.7% on a year-over-year basis. Equities research analysts expect that Glaukos will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Glaukos by 6.1% during the first quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock worth $225,460,000 after acquiring an additional 131,251 shares during the last quarter. Invesco Ltd. increased its position in shares of Glaukos by 4.9% during the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier's stock worth $218,708,000 after acquiring an additional 68,310 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Glaukos by 56.5% in the first 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 during the last quarter. Primecap Management Co. CA increased its holdings in Glaukos by 0.3% in the first quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock valued at $119,922,000 after buying an additional 4,150 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier's stock valued at $179,555,000 after buying an additional 25,199 shares during the last quarter. Institutional investors and hedge funds 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.

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