Glaukos (NYSE:GKOS) Sets New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

Several brokerages recently issued reports on GKOS. Needham & Company LLC boosted their price target on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial boosted their price target on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. BTIG Research boosted their price target on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Glaukos Trading Up 2.8 %

The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -47.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business has a fifty day moving average of $132.05 and a two-hundred day moving average of $123.31.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.50) EPS. As a group, equities analysts expect that Glaukos Co. will post -1.96 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new position in shares of Glaukos during the 2nd quarter worth $6,832,000. Natixis purchased a new position in shares of Glaukos during the 1st quarter worth $614,000. Vanguard Group Inc. increased its holdings in shares of Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after buying an additional 72,159 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Glaukos during the 1st quarter worth $913,000. Finally, WCM Investment Management LLC increased its holdings in shares of Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after buying an additional 31,084 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.