Needham analyst David Saxon has reiterated their bullish stance on GKOS stock, giving a Buy rating today.
David Saxon has given his Buy rating due to a combination of factors which point to a positive outlook for Glaukos’s performance. The company’s revenue aligned with previous announcements, and the reaffirmation of its revenue guidance for 2024 suggests a stable financial trajectory. The growth in the glaucoma sector, particularly due to the domestic introduction of the iStent infinite, has been identified as a significant growth driver. Moreover, the anticipation surrounding the iDose product, which is in the nascent stages of its launch, presents further potential for revenue growth and market penetration.
Saxon’s confidence in the robustness of Glaukos’s core business moving into 2024 underpins the recommendation. The expectation is that both iDose and iStent infinite will be key contributors to the company’s financial success in the near future. His analysis suggests that the strategic initiatives undertaken by Glaukos’s management are poised to enhance the company’s market position and drive shareholder value, leading to the assertion that the stock represents a Buy opportunity for investors.
According to TipRanks, Saxon is a 4-star analyst with an average return of 7.2% and a 44.31% success rate. Saxon covers the Healthcare sector, focusing on stocks such as Glaukos, Alphatec Holdings, and SI-Bone.
In another report released today, Citi also maintained a Buy rating on the stock with a $107.00 price target.
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Glaukos (GKOS) Company Description:
Glaukos Corp. is an ophthalmic medical device company, which engages in the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. Its Micro Invasive Glaucoma Surgery procedures are designed to reduce intraocular eye pressure by improving aqueous outflow through the natural physiologic pathway. The company was founded by Olav B. Bergheim, Morteza Gharib, and Richard Hill on July 14, 1998 and is headquartered in San Clemente, CA.
Read More on GKOS:
- Glaukos Quarterly Summary: Performance Insights and Disclosures
- GKOS Earnings this Week: How Will it Perform?
- Glaukos backs FY24 revenue view $350M-$360M, consensus $352.71M
- Glaukos raises FY23 revenue view to $313M from $307M-$310M, consensus $309.02M
- Glaukos reports preliminary Q4 revenue $81M, consensus $76.66M
