Glaukos (NYSE:GKOS) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Glaukos (NYSE:GKOS) from a buy rating to a strong-buy rating in a report published on Friday morning, ValuEngine reports.

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GKOS has been the subject of a number of other reports. JPMorgan Chase & Co. set a $90.00 price target on Glaukos and gave the company a buy rating in a research report on Thursday, October 10th. Zacks Investment Research upgraded Glaukos from a sell rating to a hold rating and set a $76.00 price target for the company in a research report on Thursday, September 12th. Bank of America lowered Glaukos from a buy rating to an underperform rating and set a $67.00 price target for the company. in a research report on Monday, September 30th. Finally, BTIG Research restated a hold rating on shares of Glaukos in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $74.88.

Shares of GKOS stock traded up $3.25 during trading hours on Friday, reaching $62.21. The company had a trading volume of 932,295 shares, compared to its average volume of 431,660. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.04 and a current ratio of 6.49. The stock has a fifty day moving average of $63.68 and a 200-day moving average of $68.88. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -168.14 and a beta of 1.68. Glaukos has a 12-month low of $50.60 and a 12-month high of $84.65.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $58.51 million during the quarter, compared to analyst estimates of $56.96 million. Glaukos had a negative return on equity of 5.77% and a negative net margin of 5.93%. The business’s revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) earnings per share. On average, analysts forecast that Glaukos will post -0.45 EPS for the current year.

In related news, CFO Joseph E. Gilliam sold 3,750 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $68.50, for a total value of $256,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 15,512 shares of company stock valued at $990,672 over the last quarter. 8.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in Glaukos by 60.6% in the second quarter. Baillie Gifford & Co. now owns 2,825,084 shares of the medical instruments supplier’s stock worth $213,012,000 after acquiring an additional 1,065,462 shares during the period. Brown Capital Management LLC grew its position in Glaukos by 6.1% in the second quarter. Brown Capital Management LLC now owns 2,618,462 shares of the medical instruments supplier’s stock worth $197,432,000 after acquiring an additional 150,931 shares during the period. BlackRock Inc. grew its position in Glaukos by 3.2% in the second quarter. BlackRock Inc. now owns 2,543,139 shares of the medical instruments supplier’s stock worth $191,753,000 after acquiring an additional 79,930 shares during the period. Waddell & Reed Financial Inc. grew its position in Glaukos by 8.1% in the second quarter. Waddell & Reed Financial Inc. now owns 1,178,298 shares of the medical instruments supplier’s stock worth $88,844,000 after acquiring an additional 88,229 shares during the period. Finally, Victory Capital Management Inc. grew its position in Glaukos by 3.9% in the second quarter. Victory Capital Management Inc. now owns 405,640 shares of the medical instruments supplier’s stock worth $30,585,000 after acquiring an additional 15,050 shares during the period. Institutional investors own 96.58% of the company’s stock.

About Glaukos

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.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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