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

Glaukos (NYSE:GKOS) had its target price upped by stock analysts at Stifel Nicolaus from $153.00 to $175.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 16.71% from the stock’s current price.

A number of other analysts have also weighed in on the company. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Piper Sandler set a $140.00 price target on shares of Glaukos in a report on Thursday, October 17th. Truist Financial upped their price objective on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Stephens raised Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $149.94 on Tuesday. The company’s fifty day moving average is $141.29 and its 200 day moving average is $130.19. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a 52 week low of $74.75 and a 52 week high of $153.50. The stock has a market cap of $8.27 billion, a PE ratio of -49.65 and a beta of 1.03.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) earnings per share. Research analysts anticipate that Glaukos will post -1.89 earnings per share for the current year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,603 shares of company stock worth $2,605,678. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC boosted its stake in Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Glaukos by 186.9% in the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after buying an additional 8,942 shares during the last quarter. First Turn Management LLC bought a new position in shares of Glaukos in the third quarter worth approximately $12,520,000. Victory Capital Management Inc. grew its holdings in shares of Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after buying an additional 64,031 shares during the last quarter. Finally, State Street Corp increased its position in shares of Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after acquiring an additional 98,109 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

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.