Needham & Company LLC Boosts Glaukos (NYSE:GKOS) Price Target to $113.00

Glaukos (NYSE:GKOS) had its price objective boosted by Needham & Company LLC from $108.00 to $113.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on GKOS. Citigroup boosted their target price on Glaukos from $107.00 to $120.00 and gave the stock a buy rating in a research note on Monday, March 25th. Stifel Nicolaus reaffirmed a buy rating and issued a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. Mizuho lifted their price objective on Glaukos from $85.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. StockNews.com downgraded Glaukos from a hold rating to a sell rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company lifted their price objective on Glaukos from $83.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $107.00.

Glaukos Stock Up 1.4 %

Glaukos stock traded up $1.48 during midday trading on Thursday, hitting $106.51. 507,497 shares of the company’s stock were exchanged, compared to its average volume of 497,055. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.38. The company has a market cap of $5.35 billion, a PE ratio of -36.98 and a beta of 1.08. Glaukos has a 12 month low of $49.19 and a 12 month high of $108.22. The firm has a 50-day moving average of $93.33 and a two-hundred day moving average of $82.96.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. During the same quarter in the prior year, the business posted ($0.59) earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, analysts expect that Glaukos will post -2.2 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the sale, the chief operating officer now owns 98,388 shares of the company’s stock, valued at approximately $9,065,470.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joseph E. Gilliam sold 140,245 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the sale, the chief operating officer now owns 98,388 shares in the company, valued at approximately $9,065,470.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,881 shares of company stock valued at $21,965,491. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GKOS. Jennison Associates LLC purchased a new position in Glaukos in the 4th quarter valued at approximately $608,000. Natixis Advisors L.P. lifted its stake in shares of Glaukos by 4.0% in the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after acquiring an additional 1,298 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Glaukos by 26.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock worth $3,329,000 after purchasing an additional 8,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Glaukos by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock valued at $29,106,000 after acquiring an additional 20,415 shares during the period. Finally, Lisanti Capital Growth LLC bought a new position in Glaukos during the 3rd quarter valued at approximately $6,367,000. 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.