Glaukos (NYSE:GKOS) Price Target Lowered to $69.00 at Stifel Nicolaus

Glaukos (NYSE:GKOS) had its target price reduced by Stifel Nicolaus from $73.00 to $69.00 in a research report released on Thursday morning, Stock Target Advisor reports. They currently have a hold rating on the medical instruments supplier’s stock.

GKOS has been the subject of several other reports. Bank of America downgraded Glaukos from a buy rating to an underperform rating and set a $67.00 price objective for the company. in a research report on Monday, September 30th. Zacks Investment Research upgraded Glaukos from a sell rating to a hold rating and set a $76.00 price objective for the company in a research report on Thursday, September 12th. ValuEngine upgraded Glaukos from a buy rating to a strong-buy rating in a research report on Friday. JPMorgan Chase & Co. set a $90.00 price objective on Glaukos and gave the stock a buy rating in a research report on Thursday, October 10th. Finally, BTIG Research reaffirmed a hold rating on shares of Glaukos in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $74.88.

Shares of Glaukos stock traded up $3.25 during trading on Thursday, hitting $62.21. 932,295 shares of the company were exchanged, compared to its average volume of 431,660. The company has a quick ratio of 6.04, a current ratio of 6.49 and a debt-to-equity ratio of 0.43. Glaukos has a fifty-two week low of $50.60 and a fifty-two week high of $84.65. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -168.14 and a beta of 1.68. The firm has a 50 day moving average price of $63.68 and a 200 day moving average price of $68.88.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. Glaukos had a negative return on equity of 5.77% and a negative net margin of 5.93%. The firm had revenue of $58.51 million during the quarter, compared to the consensus estimate of $56.96 million. During the same period in the previous year, the firm posted ($0.17) EPS. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. Analysts predict that Glaukos will post -0.45 earnings per share for the current year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In other Glaukos news, CFO Joseph E. Gilliam sold 4,631 shares of Glaukos stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $59.75, for a total value of $276,702.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 15,512 shares of company stock valued at $990,672 over the last ninety days. 8.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GKOS. Harvest Fund Management Co. Ltd purchased a new stake in Glaukos in the 2nd quarter worth approximately $39,000. Marshall Wace North America L.P. purchased a new stake in shares of Glaukos during the 1st quarter valued at $55,000. NEXT Financial Group Inc grew its stake in shares of Glaukos by 73.7% during the 2nd quarter. NEXT Financial Group Inc now owns 1,129 shares of the medical instruments supplier’s stock valued at $85,000 after buying an additional 479 shares during the period. First Quadrant L P CA purchased a new stake in shares of Glaukos during the 2nd quarter valued at $86,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Glaukos by 144.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,509 shares of the medical instruments supplier’s stock valued at $114,000 after buying an additional 891 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

Further Reading: What are Institutional Investors?

Analyst Recommendations for Glaukos (NYSE:GKOS)

Leave a Reply

Your email address will not be published. Required fields are marked *

*