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

Glaukos Co. (NYSE:GKOS)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $116.91 and last traded at $116.48, with a volume of 180460 shares trading hands. The stock had previously closed at $112.51.

Analyst Ratings Changes

Several equities analysts recently issued reports on GKOS shares. Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $125.00 in a report on Monday, May 6th. Stifel Nicolaus lifted their price target on shares of Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Finally, Needham & Company LLC lifted their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.27.

Glaukos Stock Up 1.1 %

The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $108.78 and its two-hundred day moving average price is $95.48.

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

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 353 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the transaction, the chief financial officer now directly owns 51,647 shares in the company, valued at $5,707,509.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the completion of the transaction, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 2,500 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,475 shares of company stock valued at $8,387,713 over the last 90 days. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in Glaukos during the 4th quarter valued at about $46,000. GAMMA Investing LLC bought a new position in shares of Glaukos during the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC raised its holdings in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Glaukos in the first quarter worth $213,000. Institutional investors and hedge funds 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.