Glaukos Corp. (NYSE:GKOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $38.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 16.21% from the stock’s previous close.
According to Zacks, “Glaukos Corporation is an ophthalmic medical technology company. The Company develops, manufactures and markets medical devices for the treatment of glaucoma. Its product pipeline consists of iStent Inject, the iStent Supra and iDose. The company operates primarily in United States, Germany, Europe, the Asia Pacific, Canada and internationally. Glaukos Corporation is headquartered in Laguna Hills, California. “
Several other equities research analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $41.00 target price on shares of Glaukos Corp. in a research note on Sunday, September 25th. Wells Fargo & Co. started coverage on shares of Glaukos Corp. in a research note on Thursday, October 27th. They issued an “outperform” rating for the company. Piper Jaffray Cos. upped their target price on shares of Glaukos Corp. to $42.00 in a research note on Tuesday, August 2nd. Roth Capital upped their target price on shares of Glaukos Corp. from $36.50 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Glaukos Corp. in a research note on Tuesday, September 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Glaukos Corp. presently has an average rating of “Buy” and an average price target of $38.80.
Glaukos Corp. (NYSE:GKOS) traded down 0.88% on Monday, hitting $32.70. 78,718 shares of the stock were exchanged. Glaukos Corp. has a one year low of $14.25 and a one year high of $39.82. The stock has a market capitalization of $1.10 billion, a P/E ratio of 573.68 and a beta of 1.45. The company has a 50 day moving average of $34.29 and a 200 day moving average of $31.73.
Glaukos Corp. (NYSE:GKOS) last issued its earnings results on Thursday, November 10th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.00 by $0.03. Glaukos Corp. had a net margin of 2.07% and a return on equity of 2.05%. The firm earned $29.60 million during the quarter, compared to the consensus estimate of $27.21 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 55.8% on a year-over-year basis. On average, equities research analysts forecast that Glaukos Corp. will post $0.12 earnings per share for the current fiscal year.
In related news, insider Chris M. Calcaterra sold 20,000 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $36.01, for a total transaction of $720,200.00. Following the completion of the transaction, the insider now owns 260,000 shares in the company, valued at $9,362,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Phd Link sold 30,000 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $33.78, for a total transaction of $1,013,400.00. The disclosure for this sale can be found here. 36.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in shares of Glaukos Corp. by 37.4% in the second quarter. Swiss National Bank now owns 21,300 shares of the company’s stock valued at $621,000 after buying an additional 5,800 shares during the last quarter. Inspirion Wealth Advisors LLC acquired a new position in shares of Glaukos Corp. during the second quarter valued at approximately $289,000. California State Teachers Retirement System boosted its position in shares of Glaukos Corp. by 134.5% in the second quarter. California State Teachers Retirement System now owns 35,052 shares of the company’s stock valued at $1,022,000 after buying an additional 20,107 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Glaukos Corp. by 182.7% in the second quarter. Bank of New York Mellon Corp now owns 82,790 shares of the company’s stock valued at $2,413,000 after buying an additional 53,503 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Glaukos Corp. by 129.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,141,840 shares of the company’s stock valued at $33,296,000 after buying an additional 643,966 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
Glaukos Corp. Company Profile
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.