Glaukos (NYSE:GKOS) Hits New 12-Month High at $116.91

Shares of Glaukos Co. (NYSE:GKOS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $116.91 and last traded at $116.48, with a volume of 180460 shares traded. The stock had previously closed at $112.51.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Citigroup lifted their price objective on Glaukos from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Finally, BTIG Research lifted their price objective on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.27.

Glaukos Stock Up 1.1 %

The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $108.78 and a 200 day moving average of $95.48.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm earned ($0.59) earnings per share. As a group, research analysts forecast that Glaukos Co. will post -2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the sale, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at approximately $5,163,644.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Joseph E. Gilliam sold 2,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 434 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the sale, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The disclosure for this sale can be found here. Insiders sold 81,475 shares of company stock valued at $8,387,713 in the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. Envestnet Asset Management Inc. raised its stake in Glaukos by 28.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 101,602 shares of the medical instruments supplier’s stock valued at $7,646,000 after acquiring an additional 22,652 shares during the last quarter. Mariner LLC raised its stake in Glaukos by 7.1% during the 3rd quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock valued at $468,000 after acquiring an additional 411 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Glaukos during the 3rd quarter valued at approximately $1,247,000. Northern Trust Corp increased its position in Glaukos by 0.5% during the 3rd quarter. Northern Trust Corp now owns 552,317 shares of the medical instruments supplier’s stock worth $41,562,000 after purchasing an additional 2,490 shares during the period. Finally, Natixis Advisors L.P. increased its position in Glaukos by 4.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock worth $2,557,000 after purchasing an additional 1,298 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.