Glaukos (NYSE:GKOS) Reaches New 1-Year High at $102.60

Glaukos Co. (NYSE:GKOS) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $102.60 and last traded at $101.81, with a volume of 32614 shares changing hands. The stock had previously closed at $101.10.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GKOS shares. Needham & Company LLC boosted their price target on Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Citigroup lifted their price objective on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. Mizuho lifted their price objective on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective on shares of Glaukos in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company lifted their price objective on Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.80.

Glaukos Stock Performance

The firm has a fifty day simple moving average of $92.21 and a 200-day simple moving average of $81.42. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -36.01 and a beta of 1.08.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The firm had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. During the same period in the prior year, the company posted ($0.53) EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now owns 33,220 shares of the company’s stock, valued at approximately $3,085,141.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Glaukos news, COO Joseph E. Gilliam sold 9,476 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $94.12, for a total transaction of $891,881.12. Following the completion of the sale, the chief operating officer now owns 119,802 shares in the company, valued at approximately $11,275,764.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Foley sold 4,560 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the sale, the director now owns 33,220 shares of the company’s stock, valued at approximately $3,085,141.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,357 shares of company stock valued at $22,857,372. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. CWM LLC raised its position in shares of Glaukos by 309.5% during the 3rd quarter. CWM LLC now owns 1,384 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 1,046 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Glaukos by 57.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 9,082 shares of the medical instruments supplier’s stock valued at $683,000 after buying an additional 3,312 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Glaukos by 29.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,384 shares of the medical instruments supplier’s stock worth $1,534,000 after buying an additional 4,581 shares during the period. Commonwealth Equity Services LLC raised its stake in Glaukos by 20.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock worth $420,000 after buying an additional 959 shares during the period. Finally, Xponance Inc. acquired a new stake in Glaukos during the 3rd quarter worth $208,000. 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.