Glaukos (NYSE:GKOS) Sets New 1-Year High at $127.51

Glaukos Co. (NYSE:GKOS)’s share price hit a new 52-week high on Thursday . The company traded as high as $127.51 and last traded at $126.53, with a volume of 127887 shares trading hands. The stock had previously closed at $121.83.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler upped their price target on shares of Glaukos from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group upgraded Glaukos from a “hold” rating to a “buy” rating and boosted their price target for the stock from $84.00 to $125.00 in a report on Monday, May 6th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, BTIG Research boosted their price objective on shares of Glaukos from $112.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.73.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.68 and a current ratio of 5.48. The stock has a market capitalization of $6.42 billion, a P/E ratio of -44.25 and a beta of 1.05. The business has a fifty day simple moving average of $118.53 and a 200-day simple moving average of $104.93.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The business’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts expect that Glaukos Co. will post -2.25 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $112.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now directly owns 30,620 shares in the company, valued at $3,429,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $112.00, for a total value of $560,000.00. Following the completion of the sale, the director now directly owns 30,620 shares of the company’s stock, valued at $3,429,440. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. The disclosure for this sale can be found here. Insiders have sold 34,750 shares of company stock valued at $4,116,878 over the last ninety days. 6.40% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. Vanguard Group Inc. boosted its position in Glaukos by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after purchasing an additional 72,159 shares during the last quarter. Brown Capital Management LLC grew its position in shares of Glaukos by 3.4% during the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after acquiring an additional 89,420 shares during the period. Fred Alger Management LLC increased its stake in shares of Glaukos by 3.8% during the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock worth $151,337,000 after purchasing an additional 47,308 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after purchasing an additional 372,180 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Glaukos by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after acquiring an additional 31,213 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

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.