Mizuho Lowers Glaukos (NYSE:GKOS) Price Target to $175.00

Glaukos (NYSE:GKOS) had its target price reduced by Mizuho from $200.00 to $175.00 in a report published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the medical instruments supplier’s stock.

GKOS has been the topic of a number of other research reports. Truist Financial reduced their price target on Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Needham & Company LLC increased their target price on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Stifel Nicolaus boosted their price target on shares of Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Wells Fargo & Company increased their price objective on shares of Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Piper Sandler dropped their target price on shares of Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.17.

Glaukos Stock Up 1.5 %

Shares of NYSE GKOS opened at $90.15 on Wednesday. The company has a 50 day simple moving average of $109.20 and a 200 day simple moving average of $131.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Glaukos has a 1 year low of $77.91 and a 1 year high of $163.71. The firm has a market cap of $5.10 billion, a PE ratio of -31.41 and a beta of 0.88.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. On average, research analysts forecast that Glaukos will post -1.08 EPS for the current year.

Insider Transactions at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently modified their holdings of the stock. Whipplewood Advisors LLC grew its holdings in Glaukos by 3,957.1% during the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 277 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Glaukos by 583.9% during the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. IFP Advisors Inc purchased a new position in Glaukos during the fourth quarter worth about $43,000. Asset Planning Inc purchased a new stake in Glaukos in the 4th quarter valued at about $90,000. Finally, CoreCap Advisors LLC lifted its position in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after buying an additional 200 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other 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.