Glaukos (NYSE:GKOS) has been given a $48.00 target price by equities researchers at Cantor Fitzgerald in a report issued on Wednesday, January 10th. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 68.13% from the company’s current price.
Several other analysts have also issued reports on the company. BMO Capital Markets reissued a “buy” rating on shares of Glaukos in a report on Monday, December 11th. Zacks Investment Research raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Stephens reissued an “overweight” rating and set a $40.00 price target (down previously from $47.00) on shares of Glaukos in a report on Monday, November 13th. BidaskClub lowered Glaukos from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $38.00 price target on shares of Glaukos in a report on Friday, September 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Glaukos currently has an average rating of “Buy” and an average target price of $44.86.
Glaukos (NYSE GKOS) traded down $1.07 during trading on Wednesday, reaching $28.55. The company had a trading volume of 1,112,355 shares, compared to its average volume of 550,733. The stock has a market capitalization of $986.84 and a PE ratio of -951.67. Glaukos has a 12 month low of $23.08 and a 12 month high of $52.49.
In other news, CFO Joseph E. Gilliam bought 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average cost of $23.84 per share, for a total transaction of $50,064.00. Following the completion of the transaction, the chief financial officer now owns 102,100 shares of the company’s stock, valued at $2,434,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of GKOS. Janus Henderson Group PLC purchased a new stake in Glaukos during the second quarter valued at approximately $129,356,000. Bamco Inc. NY raised its position in Glaukos by 104.6% during the third quarter. Bamco Inc. NY now owns 2,194,059 shares of the medical instruments supplier’s stock valued at $72,404,000 after purchasing an additional 1,121,813 shares during the period. Koch Industries Inc. purchased a new stake in Glaukos during the second quarter valued at approximately $683,000. Capital World Investors raised its position in Glaukos by 17.1% during the second quarter. Capital World Investors now owns 2,740,000 shares of the medical instruments supplier’s stock valued at $113,628,000 after purchasing an additional 400,000 shares during the period. Finally, Alliancebernstein L.P. raised its position in Glaukos by 26.7% during the second quarter. Alliancebernstein L.P. now owns 1,636,621 shares of the medical instruments supplier’s stock valued at $67,871,000 after purchasing an additional 344,739 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.
Glaukos Company Profile
Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.
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