Glaukos Corp (GKOS) Receives Consensus Rating of “Buy” from Brokerages

Glaukos Corp (NYSE:GKOS) has earned an average recommendation of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.78.

Several analysts have recently weighed in on GKOS shares. ValuEngine upgraded Glaukos from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. BMO Capital Markets raised their target price on Glaukos from $59.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, August 30th. Piper Jaffray Companies raised their target price on Glaukos to $73.00 and gave the company an “overweight” rating in a research note on Friday, August 31st. JPMorgan Chase & Co. upgraded Glaukos from a “neutral” rating to an “overweight” rating and raised their target price for the company from $42.00 to $75.00 in a research note on Wednesday, August 29th. Finally, Stephens restated an “overweight” rating and set a $57.00 target price on shares of Glaukos in a research note on Wednesday, August 29th.

In other news, Director Gilbert H. Kliman sold 502,760 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $60.39, for a total transaction of $30,361,676.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas William Burns sold 150,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $38.78, for a total transaction of $5,817,000.00. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new position in shares of Glaukos during the second quarter worth about $127,000. Great West Life Assurance Co. Can lifted its position in shares of Glaukos by 112.0% during the second quarter. Great West Life Assurance Co. Can now owns 4,240 shares of the medical instruments supplier’s stock worth $172,000 after purchasing an additional 2,240 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Glaukos during the second quarter worth about $183,000. Amalgamated Bank bought a new position in shares of Glaukos during the second quarter worth about $205,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Glaukos during the second quarter worth about $248,000.

NYSE GKOS traded down $0.38 during trading hours on Friday, hitting $60.08. The company had a trading volume of 332,790 shares, compared to its average volume of 428,796. Glaukos has a fifty-two week low of $23.08 and a fifty-two week high of $70.91.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Glaukos had a negative net margin of 3.49% and a negative return on equity of 4.11%. The company had revenue of $43.16 million during the quarter, compared to analyst estimates of $40.51 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that Glaukos will post -0.55 earnings per share for the current year.

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.

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Analyst Recommendations for Glaukos (NYSE:GKOS)

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