Glaukos Corporation (NYSE:GKOS)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a research report issued on Monday. They presently have a $40.00 price objective on the medical instruments supplier’s stock, down from their previous price objective of $47.00. Stephens’ price objective would indicate a potential upside of 39.62% from the stock’s previous close.
A number of other equities analysts also recently weighed in on GKOS. Zacks Investment Research upgraded shares of Glaukos Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, August 4th. BidaskClub upgraded shares of Glaukos Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. BMO Capital Markets restated a “buy” rating and set a $54.00 target price on shares of Glaukos Corporation in a report on Friday, September 1st. Roth Capital lowered their target price on shares of Glaukos Corporation from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating on shares of Glaukos Corporation in a report on Thursday, September 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.86.
Glaukos Corporation (GKOS) opened at $28.65 on Monday. Glaukos Corporation has a one year low of $28.63 and a one year high of $52.49. The firm has a market cap of $1,036.96, a P/E ratio of 250.00 and a beta of 1.25.
Glaukos Corporation (NYSE:GKOS) last announced its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The business had revenue of $40.41 million for the quarter, compared to analyst estimates of $38.69 million. Glaukos Corporation had a negative net margin of 0.64% and a positive return on equity of 3.50%. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. equities analysts predict that Glaukos Corporation will post -0.02 earnings per share for the current fiscal year.
In related news, Director Orbimed Advisors Llc sold 580,200 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $38.73, for a total value of $22,471,146.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas William Burns sold 1,212 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $41.25, for a total transaction of $49,995.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 980,200 shares of company stock worth $37,900,263. Corporate insiders own 16.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GKOS. Janus Henderson Group PLC bought a new stake in Glaukos Corporation during the second quarter worth about $129,356,000. Koch Industries Inc. bought a new stake in Glaukos Corporation during the second quarter worth about $683,000. Bamco Inc. NY lifted its position in Glaukos Corporation by 75.7% during the second quarter. Bamco Inc. NY now owns 1,072,246 shares of the medical instruments supplier’s stock worth $44,466,000 after purchasing an additional 462,019 shares during the period. Capital World Investors lifted its position in Glaukos Corporation by 17.1% during the second quarter. Capital World Investors now owns 2,740,000 shares of the medical instruments supplier’s stock worth $113,628,000 after purchasing an additional 400,000 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Glaukos Corporation by 26.7% during the second quarter. Alliancebernstein L.P. now owns 1,636,621 shares of the medical instruments supplier’s stock worth $67,871,000 after purchasing an additional 344,739 shares during the period.
About Glaukos Corporation
Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.
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