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

Glaukos Co. (NYSE:GKOS)’s stock price reached a new 52-week high on Friday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GKOS. Wells Fargo & Company lifted their target price on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC lifted their price target on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research increased their price objective on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.55.

Glaukos Trading Up 2.3 %

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

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

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’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 transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Glaukos in the second quarter worth approximately $67,460,000. Primecap Management Co. CA increased its holdings in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after buying an additional 372,180 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after acquiring an additional 246,322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Glaukos by 47.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after acquiring an additional 207,338 shares in the last quarter. 99.04% of the stock is currently owned by 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.