Glaukos (NYSE:GKOS) Sets New 1-Year High – What’s Next?

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $136.74 and last traded at $136.74, with a volume of 136685 shares traded. The stock had previously closed at $134.08.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GKOS. Truist Financial increased their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC raised their price objective on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price objective on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley raised their price objective on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.45.

Glaukos Trading Up 2.2 %

The stock has a market capitalization of $6.90 billion, a PE ratio of -47.44 and a beta of 1.02. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $129.22 and a 200-day moving average price of $118.66.

Glaukos (NYSE:GKOS) last released its quarterly earnings results 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). The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the business posted ($0.55) EPS. Sell-side analysts expect that Glaukos Co. will post -2.16 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated 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 $4,225,345.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,250 shares of company stock worth $4,825,873 in the last ninety days. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Large investors have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in shares of Glaukos in the third quarter valued at about $25,000. Caldwell Sutter Capital Inc. increased its holdings in shares of 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 during the last quarter. GAMMA Investing LLC increased its holdings 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 worth $141,000 after purchasing an additional 486 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Glaukos in the second quarter worth about $187,000. Finally, Brighton Jones LLC bought a new stake in shares of Glaukos in the second quarter worth about $208,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Company Profile

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.