Glaukos (NYSE:GKOS) Reaches New 52-Week High Following Analyst Upgrade

Glaukos Co. (NYSE:GKOSGet Free Report) reached a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $110.00 to $130.00. Stifel Nicolaus currently has a buy rating on the stock. Glaukos traded as high as $115.78 and last traded at $114.71, with a volume of 443129 shares. The stock had previously closed at $111.63.

Several other equities analysts have also commented on the stock. Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and increased their target price for the company from $84.00 to $125.00 in a report on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Needham & Company LLC lifted their price target on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. BTIG Research lifted their target price on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Truist Financial restated a “buy” rating and set a $125.00 target price (up from $120.00) on shares of Glaukos in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $112.27.

Get Our Latest Stock Analysis on Glaukos

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total transaction of $705,000.00. Following the transaction, the director now owns 32,360 shares in the company, valued at $3,650,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the transaction, the director now directly owns 32,360 shares in the company, valued at $3,650,208. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $112.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 30,620 shares in the company, valued at $3,429,440. The disclosure for this sale can be found here. Insiders have sold 81,475 shares of company stock worth $8,387,713 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Glaukos during the fourth quarter valued at about $46,000. GAMMA Investing LLC acquired a new position in Glaukos in the 4th quarter worth approximately $55,000. Quadrant Capital Group LLC grew its stake in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. grew its stake in shares of Glaukos by 5,860.0% during the 1st 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 period. Finally, Cetera Advisors LLC acquired a new stake in shares of Glaukos during the 1st quarter worth approximately $213,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Up 2.8 %

The firm has a market cap of $5.78 billion, a price-to-earnings ratio of -39.83 and a beta of 1.09. The business’s 50 day moving average price is $102.86 and its 200 day moving average price is $89.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38.

Glaukos (NYSE:GKOSGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. Glaukos’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.59) EPS. On average, equities analysts forecast that Glaukos Co. will post -2.26 EPS for the current year.

Glaukos Company Profile

(Get Free Report)

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.

Further Reading

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