Cantor Fitzgerald Analysts Give Glaukos (GKOS) a $48.00 Price Target

Cantor Fitzgerald set a $48.00 price target on Glaukos (NYSE:GKOS) in a research note issued to investors on Wednesday. The firm currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded Glaukos from a buy rating to a hold rating in a research report on Monday, September 18th. Zacks Investment Research downgraded Glaukos from a hold rating to a sell rating in a research report on Wednesday, September 20th. BMO Capital Markets restated a buy rating on shares of Glaukos in a research report on Monday, December 11th. Stifel Nicolaus restated a buy rating on shares of Glaukos in a research report on Thursday, September 14th. Finally, Stephens restated a buy rating and issued a $47.00 price objective on shares of Glaukos in a research report on Friday, September 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $44.86.

Glaukos (GKOS) opened at $28.33 on Wednesday. The firm has a market capitalization of $979.23, a price-to-earnings ratio of -708.07, a P/E/G ratio of 41.06 and a beta of 1.02. Glaukos has a 52-week low of $23.08 and a 52-week high of $52.49.

Glaukos (NYSE:GKOS) last released its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The company had revenue of $40.41 million for the quarter, compared to the consensus estimate of $38.69 million. Glaukos had a positive return on equity of 3.50% and a negative net margin of 0.64%. Glaukos’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. analysts expect that Glaukos will post -0.03 EPS for the current fiscal year.

In other news, CFO Joseph E. Gilliam bought 2,100 shares of Glaukos stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of $23.84 per share, with a total value of $50,064.00. Following the completion of the acquisition, the chief financial officer now owns 102,100 shares of the company’s stock, valued at approximately $2,434,064. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.40% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of Glaukos by 10.5% in the second quarter. California Public Employees Retirement System now owns 8,400 shares of the medical instruments supplier’s stock worth $348,000 after purchasing an additional 800 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Glaukos by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 70,313 shares of the medical instruments supplier’s stock worth $2,915,000 after purchasing an additional 994 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Glaukos by 93.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 1,212 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Glaukos by 3.7% in the second quarter. GSA Capital Partners LLP now owns 35,080 shares of the medical instruments supplier’s stock worth $1,455,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Navellier & Associates Inc increased its holdings in shares of Glaukos by 4.9% in the second quarter. Navellier & Associates Inc now owns 33,307 shares of the medical instruments supplier’s stock worth $1,381,000 after purchasing an additional 1,567 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Glaukos

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.

Analyst Recommendations for Glaukos (NYSE:GKOS)

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