Glaukos (NYSE:GKOS) Sets New 1-Year High – Here’s Why

Glaukos Co. (NYSE:GKOS) hit a new 52-week high during trading on Friday . The stock traded as high as $146.09 and last traded at $143.81, with a volume of 87423 shares traded. The stock had previously closed at $140.83.

Analyst Ratings Changes

GKOS has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Truist Financial upped their target price on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. BTIG Research lifted their price target on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.55.

Glaukos Price Performance

The company’s 50 day simple moving average is $132.40 and its 200 day simple moving average is $123.58. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $7.94 billion, a PE ratio of -47.68 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the business earned ($0.50) earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities analysts anticipate that Glaukos Co. will post -1.96 earnings per share for the current year.

Insider Transactions at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently bought and sold shares of GKOS. Values First Advisors Inc. purchased a new stake in Glaukos during the third quarter worth approximately $25,000. Harvest Fund Management Co. Ltd boosted its position in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares during the period. GAMMA Investing LLC grew its stake in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Glaukos during the 2nd quarter valued at about $187,000. Finally, KBC Group NV lifted its position in Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares in the last quarter. 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.