According to Bloomberg, Glaukos Co. (NYSE:GKOS) has received a consensus rating of “Moderate Buy” from the nine brokerages that cover the firm. Out of these, three research analysts have rated the stock with a hold recommendation, while six have issued a buy recommendation on the company. The average twelve-month price objective among brokers who have provided ratings in the past year is $79.00.
As of Monday, GKOS stock opened at $75.25. Over the past fifty days, the company’s moving average price has been $75.04, while its 200-day moving average price stood at $64.58. In terms of yearly performance, Glaukos reached a low of $40.45 and a high of $80.28. The company boasts a debt-to-equity ratio of 0.72 and exhibits strong liquidity ratios with a quick ratio of 5.66 and current ratio of 6.28.
With a market capitalization of $3.66 billion, Glaukos possesses a PE ratio of -28.50 and has a beta value of 1.22.
Recent activity in GKOS stock highlights increased interest from hedge funds and institutional investors alike. Barclays PLC witnessed a substantial increase in holdings by approximately 46.7% during the second quarter, now owning 34,066 shares valued at $2,425,000 after acquiring an additional 10,840 shares in that period.
Other notable buyers include Wolverine Trading LLC with an approximated purchase worth $276,000 during Q2 and Osaic Holdings Inc., which grew its holdings by 4.1% to own 16,344 shares valued at $1,164,000 after purchasing an additional 644 shares during the same period.
Nuveen Asset Management LLC also seized this opportunity and increased its position in Glaukos by approximately 163.6% during Q2. Presently, it holds 358,352 shares valued at $25,518,000.
Wells Fargo & Company MN further contributed to the trend by growing its position by 79.0%, accumulating 23,896 shares worth $1,702,000 after the acquisition of an extra 10,548 shares in that particular timeframe.
Overall, institutional investors now account for approximately 99.04% of Glaukos’s stock.
Looking back at Glaukos’s most recent earnings data release on August 2nd, it reported EPS of ($0.55) for the quarter, a slight improvement from the consensus estimate of ($0.57) by $0.02. The company also showed a negative return on equity of 19.53% and a negative net margin of 42.61%. In terms of revenue, Glaukos recorded $80.40 million for the quarter compared to an estimated figure of $74.73 million. This positive result marks a growth rate of 10.6% compared to the same period last year when the company posted ($0.83) EPS.
Based on analysts’ expectations, it is anticipated that Glaukos will report -2.26 EPS for this current fiscal year.
In conclusion, with brokerages indicating a “Moderate Buy” rating and an average twelve-month price objective of $79.00 per share for Glaukos Co., investors may find it beneficial to closely track this medical instruments supplier as it continues to make significant strides in its performance and attracting institutional investors into its fold.
Glaukos Corporation Receives Analysts’ Acclaim and Insider Transactions Mark an Intriguing Turn of Events
On October 2, 2023, Glaukos Corporation found itself at the center of attention as various research analysts issued reports on the company. Mizuho increased its target price on Glaukos from $80.00 to $85.00 and bestowed upon it a “neutral” rating in a research report unveiled on Thursday, August 3rd. Citigroup also joined the ranks by raising Glaukos’ price objective from $59.00 to $85.00 in a research note disclosed on Monday, July 10th.
This surge in interest towards Glaukos didn’t stop there. StockNews.com jumped on board by upgrading its recommendation on Glaukos from a “sell” rating to a “hold” rating in another research note released on Wednesday, September 27th. It seems that positivity was contagious, as BTIG Research followed suit and raised its price target on Glaukos shares from $83.00 to $86.00 in a report made public on Thursday, August 3rd.
However, the most glowing outlook came from Stifel Nicolaus which revisited its stance once more by restating a “buy” rating and setting an impressive $90.00 price objective for shares of Glaukos in yet another report launched on Tuesday, September 26th.
In addition to these reports, notable transactions involving key personnel have taken place within Glaukos Corporation. Chief Operating Officer (COO) Joseph E. Gilliam carried out the sale of an astonishing 42,099 shares of Glaukos stock in a transaction that occurred back on Friday, July 14th. The shares were sold at an average price of $78.34 each with the total value amounting to an impressive $3,298,035.66.
Following this significant sale, it was revealed through legal filings with the Securities and Exchange Commission (SEC) that Gilliam now possesses 120,484 shares of the company’s stock valued at $9,438,716.56. The details of this transaction can be found by following the link accessible through the same filing with the SEC.
Moreover, another notable figure within Glaukos Corporation also partook in stock sales. Director Gilbert H. Kliman sold 10,000 shares of Glaukos’ stock in a transaction taking place on Friday, August 4th. These shares were sold at an average price of $74.56, amounting to a total transaction value of $745,600. Following this sale, Kliman now owns 29,725 shares of Glaukos stock valued at $2,216,296.
The disclosure for this sale made by Kliman can be accessed through the provided link to further explore the intricacies surrounding it.
In conclusion, Glaukos Corporation has recently been under scrutiny from research analysts who have all unanimously increased their enthusiasm towards the company’s future potential. On top of that, noteworthy transactions by key personnel mark an intriguing turn of events within Glaukos as its COO and director both sought to sell their stakes in the company’s stock during these exciting times.
It is worth noting that corporate insiders collectively unloaded a substantial number of Glaukos shares over the past three months valued at an impressive $7,909,274. This surely adds another element to the complex tapestry surrounding Glaukos Corporation as one wonders about the implications behind these actions.
As we move forward into an uncertain future for this renowned corporation in medical technology innovation for glaucoma treatment solutions and therapies, only time will reveal whether these recent developments will bear fruit or fade away into obscurity like so many before them.