Glaukos (NYSE:GKOS) Reaches New 12-Month High on Analyst Upgrade

Glaukos Co. (NYSE:GKOS)’s share price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $130.00 to $145.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Glaukos traded as high as $142.45 and last traded at $140.64, with a volume of 1426189 shares. The stock had previously closed at $127.86.

Several other research analysts also recently commented on GKOS. Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Truist Financial increased their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC lifted their price target on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.55.

Insider Activity

In related news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the sale, the director now directly owns 34,076 shares in the company, valued at $4,291,190.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,525 shares of company stock valued at $5,142,029 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GKOS. Assenagon Asset Management S.A. bought a new stake in shares of Glaukos in the second quarter valued at approximately $6,832,000. Natixis bought a new stake in shares of Glaukos in the first quarter valued at approximately $614,000. Vanguard Group Inc. boosted its position in shares of Glaukos by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after acquiring an additional 72,159 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Glaukos in the first quarter valued at approximately $913,000. Finally, Duality Advisers LP bought a new stake in shares of Glaukos in the first quarter valued at approximately $3,476,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Up 10.7 %

The company has a market capitalization of $7.78 billion, a P/E ratio of -39.17 and a beta of 1.02. The firm has a 50-day moving average price of $129.48 and a two-hundred day moving average price of $120.20. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. The company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company posted ($0.50) earnings per share. Equities research analysts anticipate that Glaukos Co. will post -2.16 EPS for the current fiscal year.

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.