Zacks Investment Research upgraded shares of Glaukos Corporation (NYSE:GKOS) from a hold rating to a buy rating in a research note released on Tuesday. The firm currently has $43.00 price objective on the stock.
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 research analysts have also recently issued reports on GKOS. Stifel Nicolaus raised Glaukos Corporation from a hold rating to a buy rating and lifted their target price for the company from $42.00 to $45.00 in a research report on Friday, January 6th. Cantor Fitzgerald reaffirmed a buy rating and set a $45.00 target price (up previously from $41.00) on shares of Glaukos Corporation in a research report on Wednesday, November 30th. Finally, Wells Fargo & Company initiated coverage on Glaukos Corporation in a research report on Thursday, October 27th. They set an outperform rating on the stock. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus price target of $40.67.
Glaukos Corporation (NYSE:GKOS) traded up 1.73% during midday trading on Tuesday, reaching $38.87. The company had a trading volume of 415,633 shares. Glaukos Corporation has a 12-month low of $14.25 and a 12-month high of $39.82. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 681.93 and a beta of 1.29. The stock’s 50 day moving average is $33.78 and its 200 day moving average is $33.59.
Glaukos Corporation (NYSE:GKOS) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.00 by $0.03. Glaukos Corporation had a return on equity of 2.05% and a net margin of 2.07%. The firm earned $29.60 million during the quarter, compared to analysts’ expectations of $27.21 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 55.8% compared to the same quarter last year. Equities research analysts expect that Glaukos Corporation will post $0.12 earnings per share for the current year.
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In other Glaukos Corporation news, CEO Thomas William Burns sold 200,120 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $33.68, for a total value of $6,740,041.60. Following the sale, the chief executive officer now directly owns 1,388 shares in the company, valued at $46,747.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris M. Calcaterra sold 20,000 shares of the business’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $36.01, for a total value of $720,200.00. Following the completion of the sale, the insider now owns 260,000 shares in the company, valued at $9,362,600. The disclosure for this sale can be found here. 36.80% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of Glaukos Corporation by 0.9% in the third quarter. California State Teachers Retirement System now owns 35,352 shares of the company’s stock valued at $1,334,000 after buying an additional 300 shares during the last quarter. BlackRock Inc. raised its stake in shares of Glaukos Corporation by 16.1% in the third quarter. BlackRock Inc. now owns 4,350 shares of the company’s stock valued at $164,000 after buying an additional 602 shares during the last quarter. TFS Capital LLC raised its stake in shares of Glaukos Corporation by 7.3% in the second quarter. TFS Capital LLC now owns 17,227 shares of the company’s stock valued at $502,000 after buying an additional 1,172 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Glaukos Corporation by 1.8% in the third quarter. Ameriprise Financial Inc. now owns 114,026 shares of the company’s stock valued at $4,304,000 after buying an additional 2,019 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Glaukos Corporation by 116.3% in the second quarter. BlackRock Group LTD now owns 3,802 shares of the company’s stock valued at $111,000 after buying an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Glaukos Corporation 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.
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